Recent Micro Four/Thirds sensors seem to have improved their noise performance significantly.
I own a Canon 5D Mark 2 full frame DSLR and am considering purchasing an Olympus OM-D EM5 micro four thirds camera.
I have rented the EM5 and notice the noise performance is about half a stop to a whole stop behind my 5D2.
However, the OM-D is able to take the same picture as the 5D2, at a lower ISO and the same shutter speed.
If I am shooting with the 5D2 and 50mm lens, and I take a shot with 1/60th, F/5.6, and 1600 iso. To get a comparable shot on the OM-D (same depth of field) with 25mm lens, I shoot at 1/60th of a second, F/2.8, and 400(!) iso.
Does aperture equivilence give the OM-D a clear advantage here, or am I looking at this wrong?
I understand that in a true very low light situation where I must shoot wide open (both cameras at F/1.4), ISO must be equal on both cameras and thus the 5D takes the crown again. But for moderate situations where F/1.4 is not required, is the OM-D actually better?