One of the things that interested me about the E-5 was the fact that it has a weak anti-aliasing filter. The Olympus solution to dealing with moire is to use software in-camera and presumably also in their software Olympus Master 2. There are some raw files available on a Russian? site at:- http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Folympus.ourlife.ru%2Fforum%2Findex.php%3Fshowtopic%3D16116 and I downloaded several. I used the Olympus software to process them and they looked very like the jpgs that are floating around. I then tried them in Rawker the dc-raw based software. It did recognise and process the files and the results were somewhat different. No software fixes here. The resulting files are noisier and you can see moire clearly in some of them. So basically there's a lot going on in the software. One disappointment is that I didn't find the files to be particularly sharper, and couldn't quite see the benefit of the weakened AA filter.
Anyway here are the ones I processed. All files were processed using "flat" neutral settings.
Finally heres a comparison shot. Taken with my recently acquired Panasonic L10 + Leica Panasonic D 14-50mm f3.8-5.6 Vario-Elmar.
Many thanks to the site for making these available. Raw files always give a better idea as to what a camera can do than jpgs, and this has been quite revealing.
I've just done of couple of high ISO samples. There is nothing available on the Russian site over ISO 1600 so I've used one of those below:-
Heres one at ISO 640
Both of these are comparisons between a full-size jpg and a raw file processed in Rawker. The difference is more obvious on the ISO 1600 file which is pretty noisy on the Rawker conversion, but not on the jpg. These jpgs are created from Lightroom according to the text on the site.