I am just overwhelmed by all the responses - thanks so much everyone!
First, I'll try to address some specific questions/comments:
johnyates: Thanks for the "comparomete" link - very interesting results! That has given me some assurance about the IQ of these little cameras.
Turtle: I am in agreement in that not having a viewfinder at all would not work for me. After a 10 year hiatus, I picked my photography hobby back up a year ago. I am in such a habit of using a viewfinder that I couldn't image being without one. Hence my struggle with an EVF on the G3. Not only the fact of it being EVF, I need to try one to see the actual size of the VF and the view I get. And another thing I've learned is that the Olympus and Panny lenses are interchangeable - didn't know that.
pinholecam: Coming from the film era, even going as high as ISO800 is just wild to me. I am so used to shooting ISO64 and ISO100 film that I have carried that along to my new DSLR era. That is one reason I've kept with the K20D - while being able to shoot much higher ISO with the K-5, I haven't found the need......yet. The only question that comes to mind with an M4/3 using for example the 100-300 f4-5.6 - will I see the same effect of light transmission with that lens as I would with the K20D with the DA 55-300 f4-5.8 at the same ISO setting? And again - seeing the EVF for myself is now an important step in making a decision. I just don't know if I could ever get used to shooting using the LCD screen.
johnmflores: WOW - JUST WOW! Thank you so much for taking the time in posting those comparisons. There you have the comparison of the K20D and the Panny M4/3 right in front of my eyes - I couldn't ask for a better comparison! I am very impressed with the Panny images - to the point that you have answered my main question. I know now that I can expect at least similar IQ from the Panny as I have with the K20D with appropriate lenses. I am just floored by those images!
jolepp: Your comparison about the viewfinders sounds promising to me - thanks for a very well worded description of something that is very hard to describe. And as far as focal lengths, my main walk around lens right now is the DA 55-300, so as you suggest, I wouldn't have a problem covering that focal length with one of the M4/3 lenses. I also did a lot or work with my DFA 100 this past summer shooting my wifes many flowers - I guess I could keep that lens to be used with an adapter, or try out the Panny 45 2.8. I don't do any actual macro work, but consider my flower shots more of a close-up style. I intend to do a lot more of that type in the future, so a good sharp macro or close-up lens is very important to me.
This is a lot of information to absorb, but I love learning about new things - especially when it comes to photography gear. At this point, a lot of my initial questions have been answered - especially that of IQ. Now it comes to the point of 2 items for me:
Will I like the EVF and find it usable for most of my shooting?
Will I like the feel when I hold such a small cameras?
When I first came back to my hobby after a 10 year hiatus, I settled on the K20D mainly for the heft of the body. I have big hands, and am used to larger cameras from the film era. I begin to wonder if I will have just as much trouble holding a small light camera being it is so small. The only way I can answer that is to use one of course.
And one other response I omitted I think - my shooting is done 99% at home here - all outdoors. I have a field, some woods, and 1 mile of river frontage in the mountains of western Pennsylvania. I did a lot of flower shots this past summer, and have plans of shooting a lot of small birds this winter at/near the feeders (Chikadees and the like). Working off a tripod is very restriive for any type of fast moving wildlife - I bought the Tammy SP300 for this use, but have now found that I just can't hold it. Hence my quest for something I can handle hand-held. Another option is to try a DA*300 on my K20D if I would find I don't like these small M4/3's.
Here are a few photos from the past summer that I can share:
Zenfolio | stahr
I am happy with those photos and need to be able to produce the same with a gear change.
Thanks to all!