Payasam, I always used to dislike the 4/3rds sensors because of their effective reduced depth of field, but recently I've found that for any serious documentary or travel work I actually much prefer it. The way that I see it is:
-4/3rds allows a shallow depth of field when NEEDED, but generally allow for more DOF allowing me to use larger apertures in most situations, allowing ISO to be kept down, thus allowing me to utilize the sweet spots of the zuiko lenses.
-35mm or "full frame/FX" cameras/lenses need to be stopped down to get a satisfactory DOF, needing a higher ISO, lower shutterspeeds etc. f4 on an olymus E-3 equals f8 on a canon 5d in relative Depth of Field, and in most situations the larger DOF of the 4/3rds sensor is preferable, except in special circumstances like wedding photography where ultra thin DOF is fashionable in portraits.