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I am not familiar with the T2i but I think the OM-D is good enough to replace my 5D II, and I have some serious glass like the 24L II, 85L II and 70-200L II. The 12-50 kit lens will not cut it. If you want really good IQ you need really good glass like the 7-14, 12/2, 25/1.4, 45/2.8 macro, 45/1.8, 75/1.8 ... and maybe the 12-35 and 35-100 when that lens becomes available.
For walkabouts, inclement-weather shooting and other non-serious shoots, the 12-50 will do just fine, but if you want the IQ to match or even be better than your T2i you need to invest in good glass.
"I am not familiar with the T2i but I think the OM-D is good enough to replace my 5D II"
Wow. As a fan of what Oly is doing that's interesting, but I still think that's a bold statement. Care to elaborate?
PS - the OMD or Nex is much higher on my list than anything Canon makes..
It's really quite simple. The IQ from the OM-D with a good prime lens or zoom lens like the 7-14 or 12-35 is extremely high ... maybe not as high as FF but it is as good as the Canon 7D ... and that is good enough for me. I need to strike a good balance between IQ and bulk/weight and the OM-D fits the bill perfectly. It is a full systems camera (and what an elegant looking camera too!) with a superb line of lenses that is expanding very rapidly.
The only downside to the OM-D is the poor continuous AF (no good if you shoot fast-action sports and birds-in-flight) and a lack of very good long lenses, but I believe Olympus is working on a fix, and it's just a matter of time before we see some terrific long primes and zooms.