I've had a T2 and a T3, and currently have the Olympus.
I've seen some fantastic pictures from other people out of the Olympus. But, i've had mine for two or three years and have yet to develop a single roll. I just have no interest in using it. I've never liked the plastic-ness, or the 'shell' design, but what irks me most is not feeling like i have control over it, aperture-wise.
I know it's a P&S, but i don't like all-automatic cameras.
The lens on it is surely capable, but it's a moot point if i never feel inspired to use it.
Oh, i forgot - i've also owned a Klasse....
Maybe this will help:
I'm hoping to buy another 'P&S' soon, and would love to have a T3 again, if only for the size. If i don't spend that money, i'll get the T2, which i sorta like for the aperture ring around the lens, and for the lens' rendering. I wouldn't go back to the Klasse over the Contaxes, but not because there's anything wrong with the Klasse. The Contaxes just feel better.