Olympus today announced the new M4/3 mirrorless camera PEN E-PL3. The E-PL3 is similar in specifications to the E-P3, but is more compact and draws more design cues from the XZ-1. Compared to the E-P3, the E-PL3 features a reduced 460k dot LCD screen, yet retains most of the performance capabilities, including what is claimed to be the world's fastest AF system.