My initial reports were that the new Olympus m4/3 camera would be called E-P3 and will be released before Photikina, but today it seems that the name of the new m4/3 camera will be called E-PL1:
"Olympus next MicroFourThirds camera name is “E-PL1“. The “L” should stay for “Light”. It has an internal Flash, plastic body, same E-P1 sensor, and it is very easy to manage (it has some new special functions). The body comes in four different colors."
I am not a big fan of EXIF data rumors but few hours later they found a battery for Olympus E-PL1 on Amazon.jp:
Maybe we will get the Olympus E-PL1 now and the E-P3 around Photokina - this will match with their current 6 months refresh cycle.