Definitely take a look at the D50, especially considering it's now selling with lens for £100 less than the Olympus. It also has 6 megapixels compared to the E1's 5. I'm a great fan of Olympus but IMO the E-1 might be too outdated to be good value for that price, especially when compared to the D50 or a Pentax for much less, or a Canon 350D for the same price. On the other hand the Olympus does have certain things the others don't, e.g. like many recent Olympus products it's 'splashproof' so you may feel safer using it in adverse weather, and if Olympus' USPs happen to be exactly what you're looking for in a camera then obviously that's the way to go. But maybe their more recent offerings are better value than the E1. I'm thinking for example the E-500 at around £50 more than the E1, or the E-300 at quite a bit less.