Originally posted by Redmanll34 Why are new DSLRs now having "live view" just seems to defeat the purpose of having an SLR.
It gives you 100% view (instead of the 95% viewfinder).
It allows real time histogram and exposure preview (plus blow out/underexposed area real time indicator); adjusting exposure compensation would be so much easier.
It allows real time preview and adjustment of white balance (no more "Oops, forgot to change back the WB" when shooting jpg).
It allows awkward angle shot.
It allows remote shooting some distance from the camera without tether.
It can give you magnified view for manual focusing.
Both auto focus and metering is possible (though not implemented by Oly). AF can be done by Contrast Detection - just like your P&S; it will be slower but possible. If they manage to use the CCD for metering (just like your P&S), Auto WB problem will be a thing of the past, and metering could also be more accurate.
Current generation of LiveView is still a bit limited, but all the features I mentioned above will be implemented sooner or later.
Potentially, it can offer a much faster burst mode (something like 20-30fps possible without mirror flips and mechanical shutter slamming, though maybe without AF), or even
Video mode!
Lastly, when you hand over the camera for someone to take a picture of you and your family, you won't get that starring-screen-Hey-it's-not-working look!