People following TamsPalm for some time will have undoubtedly noted that I am a big fan of the four thirds system due to its extreme compactness - four thirds lenses are much smaller than comparable lenses for other camera types.
Even though my e520 is very compact, some people (like my girlfriend) consider it too big and resort to toting around compact cameras. However, this is now set to change - let’s welcome the Four Thirds Micro standard.
Essentially, we are looking at a smaller standard where the optical viewfinder found on Four Thirds SLR’s is completely replaced by LiveView on the LCD. People currently owning four thirds lenses can purchase an adapter to use these on their Micro cam - unfortunately, this compatibility doesn’t go the other way round.
My friend “Prince of Darkness” managed to get a few shots of a dummy of a new lens next to one of his - here is a comparison shot showing the smaller size of the Micro lens:

Unfortunately, no products have been announced as of now. However, both companies have confirmed that they will continue to develop regular Four Thirds products, too(optical viewfinders can be very useful at times)…
Further information can be found at 1001 noisy cameras