Mirror, mirror in the bathroom stall, who’s the blog-worthiest camera of all? As of today, a small wonder: the Olympus E-PL1, third and most charming in the brand’s beloved PEN series. Magically hybridized, these micro four-thirds models look like vintage cams, act like point-and-shoots, and perform (almost) like SLRs.

I’m pals with the PEN — its last two incarnations were lent to me by Olympus — and know it as a thing of beauty, joyous to wield. You can hear the whirring and the click of imaginary film. You can buy it in silver or '60s-ish white, as coveted by the quirksome queen of all self-pic-ing style princesses, Miss Susie Bubble. You can (though it's not recommended) Swarovskify it; you can (as I did) swap out the boring lanyard for a silk ribbon, or the chain strap of a faux-Chanel bag. (Recently, a friend asked if it was really a camera, or just “a statement piece.” Both, of course!) You can cheat with art filters, like soft focus or “pop art,” and you can make very short films, and you can edit photos in-camera.

As I discovered today — I played with a prototype over lunch at Shanghai Cowgirl  — you can do all this (and more, yada yada) with the E-PL1. Sure, the menu is smaller and simplified and some functions lessened. (The ISO range, for example, is 3200 compared with the EP-2’s 6400.) It’s also lighter, even more compact, and at $649, cheaper than the EP-2 by a couple bills.

Oh! The one thing I hated about the PEN was the separate-flash requirement — major hassle. If I have to choose between packing a flash and packing ciggies... well, fashionable habits are still habits, you know? And now they’re rewarded: the E-PL1 has a built-in flash, but stays light, making it 24-hour transportable. Style people love a day-to-night piece.

Your new image-maker will be widely available in March, but if you’re in love already, I suggest you call Henry’s (416-868-0872) and start the waiting list. Olympus reps, not unreasonably, expect it to sell out throughout the land.