It was bound to happen--digital cameras would be redesigned as digital devices, rather than optical devices with digital components press-ganged into service. The new Micro Four Thirds standard, created by Olympus and Kodak does just that for digital single-lens reflex cameras (DSLR), not only blurring the feature line between point-and-shoots and DSLRs, but also allowing for interchangeable ‘smart’ lenses. Pretty neat.

And Olympus’s new PEN E-PL1 Micro Four Thirds camera, promised for March, is now available to eager adopters. The PEN E-PL1 has a 12.3 megapixel high speed MOS sensor, with a 4:3 aspect ratio, and the TruePic V Image processor. It saves images in JPEG and RAW (12-bit lossless compression) formats, in images up to 4032 x 3024 pixels. It can record video in 1280 x 720 HD, and 640 x 480 SD (with file size limited to 2GB). Images are stored to an SD or SDHC card.

Other features include high speed auto focus, image stabilization, shutter speeds from 2 to 1/2000 second (and a bulb option). The LCD is 2.7-inches and 230,000 pixels. (No optical viewfinder.) Flash is built-in. There’s also a full complement of auto features, and for the serious amateur manual control.

Amazon says it has the slate blue and champagne gold versions in stock. If you want the black it looks like you’ll have to wait. Price is $599.99, which includes a 14-42mm f/3.5-4.6 Zuiko digital zoom lens.

It you don’t have something singularly amazing, you might as well overwhelm with quantity. Olympus, working hard to be noticed in the CES throng, is announcing nine new point-and-shoot compact digital cameras.

The FE series (5030, 4040, 4030, and 47), have 14 megapixel sensors, 2.7-inch LCD displays, image stabilization, intelligent auto mode (i-Auto), auto focus tracking, face identification, and video recording. Optical zooms on the 4040 and 4030 are 4x, and on the 5030 and 47 are 5x. All have internal batteries, chargeable via USB, except the 47, which runs off standard AAs.

The µ series also has four models (9010, 7040, 7030, and 5010), and all have 14 megapixel sensor, the TruePic III image processor, and 2.7-inch LCD screens (except the 7040, which has a 3.0-inch LCD screen). All have 10x optical zoom, except the 5010, which has a 5x optical zoom. They all come with image stabilization, intelligent auto mode (i-Auto), auto focus tracking, and face detection. Each also has 2 GB of internal memory and are able to record HD  movies (but only the 7030 is capable of sound).

The ninth camera is the µ TOUGH-3000. The TOUGH-3000 has a 12 megapixel sensor, a 3.6x optical zoom, image stabilization, a 2.7-inch LCD screen, intelligent auto mode (i-Auto), auto focus tracking, and face recognition. It also has 1 Gb of internal memory and can record HD video.

The five µ-series cameras also come with Photo Surfing and [ib] Software, which lets you browse easily through and organize images based on events, people, face detection, location, or date. All cameras come with an in-camera help guide.

Prices vary, naturally, but Olympus says all will be on store shelves in March.