UPDATE: .... I didn't purchase the Pen F but purchased a pristine Pen E-P5. I also purchased the zoom 14-42. My thoughts were that will OM now produce a new Pen F and going beyond the E-P7? Not sure but when you google Olympus rumors, it appears that it is at least in the current thinking that the Pen F series is not done for. Will wait and see.
Given that....and given that I shoot analog 90% of the time, there was no reason to invest heavily in a rather expensive Pen F when I could get the P5 for $350, and in mint condition. I think it will do me nicely in my 10% digital needs.
After reading reviews it would appear that the Pen E-P7 is somewhat 'cheaper' in build, although still solid I am sure. Also, the P5 allows me to purchase a EVF if I wish to while the P7 does not. The build quality of this P5 is outstanding....I am very impressed by the feel, ergonomics....the outer covering, the knob quality and also how they turn etc.... I shoot BW and find what Olympus has as options either as default or in the Arts program is just fine. Perhaps not as good as the Pen F....but if I raise the ISO and shoot with the grainy Arts mode, it looks just fine to resemble (not be though), film.
If I enjoy shooting this I will pick up some prime lens's as I more or less feel with the 14-42 that I am shooting a super-zoom camera, or at least that is my impression. I love primes....it forces me to shoot at one focus length and only one, no other options with one prime lens on the camera. I have always been this way as prime makes one more focused in their approach and mentally you begin to focus in on images that match what ever your prime lens is.
So....happy...beautiful camera and cleaner looking that the Pen F to boot. jim