I dunno. I'm not convinced yet that this is going to be a successful direction for cameras to go. Unless the world is clamoring for a red DSLR.

(Forgetting everything else - that's got to take the cake for the ugliest DSLR ever! Gack! Memo to Panasonic - black is beautiful!)
But seriously... right off the bat, there are some problems. This is obviously meant to give DSLR image quality for PnS users. But no movie mode? The LCD is lower quality (half the pixels) than most 3" LCDs being put on DSLRs nowadays? Speaking of the LCD - they're obviously a slave to what's available out there, so they're forced to
put a 3:2 LCD on a 4:3 camera? 
And no sensor-based IS? That means that you need to buy micro-4/3rds lenses in order to get any IS? And naturally, that means an
extremely limited selection of lenses, unless you want to pay extra for an adapter and use regular 4/3rds lenses, but without IS? And apparently not all 4/3rds lenses are compatible with contrast AF, so they'll require manual focusing (which IIRC is "by wire", not actually moving the gears yourself)? (The DPReview shows AF with only
six lenses at this point.) And is it really a good idea to up the resolution to 12mp? Even the 10mp E3 struggles a little at 1600 ISO compared to just about any other DSLR.
So, a PnS buyer looking at this will see a camera that offers superior image quality but probably reasonably expensive and with very little zoom, relatively speaking. Comparable PnS cameras will go from around 36-430mm in 35mm equivalency while this one goes 28-90mm with the included lens. You also give up some features, like movie mode.
Meanwhile, a DSLR buyer will see a lack of lenses, the extra cost of a 4/3rds adapter, and the pretty limited and expensive selection of 4/3rds lenses (excellent though they may be) and the need to manual focus the vast majority of them. It's too early to say how well the 12mp sensor will work (which may be fine, other manufacturers have bumped up the pixels and improved low-light at the same time, but it's far from guaranteed especially with their smaller sensor), but that may be an issue - and will the design of the lens, which focuses the light in a tighter pattern, be an issue?

And is the 4/3rds adapter just a piece of metal or is there glass in there, which would degrade the image? To say nothing of the lack of an optical viewfinder, which is right off the bat a dealbreaker for many DSLR shooters. And, of course, if you start mounting full-size 4/3rds lenses, you lose a lot of the size advantage that the micro 4/3rds system is supposed to provide. The exposure sensor also seems much more likely to pick up dust than on normal DSLRs.
Basically, it seems to me like you give up a lot just to gain a small decrease in overall size and weight, when you're still unavoidably ending up with a camera too big to easily fit in a pocket or small purse. If I were talking to a potential buyer of an Olympus/Panasonic system, I'd have to recommend going with an E420 if they really need a small DSLR, or preferably an E520 for IS, if they can handle going slightly larger.
IMHO, I think they'd do better to just forget the whole interchangable-lens thing and build a decent big-zoom lens (like their upcoming 14-140mm lens) and have it permanently attached. Market it as something above a bridge camera, and make sure it has all the features of a comparable PnS (that means movie mode!) Then you'd have a camera that could fulfill the promise that the Sigma DP1 made and, IMHO, failed to deliver on. It also will not be an issue then that there's no sensor-based IS, few lenses AF, etc.
There was a story in the foreign press recently that Samsung has been working on a comparable mirrorless camera using their 14.6mp sensor (as used in the K20D), we'll see if Photokina has any interesting announcements in this field...?