I think I love this camera. I mean, I haven't actually tried the thing out--in fact, I just heard about it a few minutes ago, but I'm fairly certain this is love at first sight. Olympus's new E-P1 is a little bit point-and-shoot, a little bit DSLR, and just generally a rad-looking little camera.

The E-P1 utilizes Olympus and Panasonic's joint Four Thirds technology, which lets manufacturers cram the image quality and speed of a DSLR into a standard point-and-shoot-size body. Like its more expensive siblings, the E-P1 also features an interchangeable lens. Panasonic has already released the Panasonic Lumix G1 and Lumix GH1, both of which utilize the technology. The E-P1 is the first Olympus to use it.

The snazzy, retro-looking camera measures 4.74 by 2.75 by 1.37 inches. It offers 12.3-megapixel shots, a 3-inch LCD, and can capture 720p30 into AVI video. Users can also control the aperture, focus, white balance, and ISO on the device.

The camera ships in July in both silver and white body types. It comes in a number of configurations, with and without lenses. The base price (body-only) is $749.99.