After playing with it for a short while, below are some initial thoughts on this camera. I am going to start with the cons first, and yes, I know that many of them are actually "unreasonable". But I can dream, no? ;)
- Lousy ergonomics, esp. atrocious zoom lever.
- Putting on a tripod quick release plate will block the battery/card compartment.
- No RAW support.
- No manual and speed priority exposure modes.
- No viewfinder.
- No blown out highlights warning i.e. blinkies.
- Variable maximum aperture: f/2.0 to 4.9.
- Only up to 99 frames and shortest Interval Time of 1s in Interval Shooting.
- Even when Interval Time is 1s, actual interval will be 2-3s which is a mystery to me. Initially I suspected Start Waiting Time, but this happened even after setting it to 0s. So either the clock is crazy, or the delay is due to some processing in camera.
- No hot shoe for mounting external flash and other accessories.
- Low resolution for high speed video.
- Cannot do photo story using existing images.
- No focus tracking during sequential shooting.
- No bulb mode.
- No flash exposure compensation.
- No front lens cap.
- LCD not articulated.
- GPS tracking logs not readable by Adobe Lightroom.
- No manual focus, though can simulate it using AFL (focus lock) in Microscope mode, or Snapshot, Wide 1, and Macro in SCN mode.
- Can connect accessories such as LED light guide, filters, fisheye lens, and teleconverter.
- Focus stacking.
- Built-in flash and LED light.
- Custom mode to store settings.
- Able to store home and travel destination time zones.
To sum up, if you are looking for a camera that can withstand the elements yet you are not willing to pay too much or carry too heavy or bulky a setup, you should consider the Olympus Stylus TG-3 Tough, esp. if you are into more advanced stuff e.g. focus stacking, time-lapse, use of circular polarizer, etc. I am looking forward to bringing this camera to Iceland and Norway next month as a backup camera, and if it performs well, I may well use it as the main camera for non-photographic trips henceforth.