I have an Olympus EPL5, which has the same sensor as the OMD but is quite a bit smaller and cheaper. It's very versatile, fitted with a panasonic 14mm pancake lens is not much bigger than a compact so great for street shooting. Or I can put on a 14 - 150mm lens (that's equivalent to 28 - 300 in a full size DSLR) and seperate EVF and I have the equivalent of an SLR for landscapes etc.
I have children aged 1 and 3 so really enjoy taking photo of them, particularly on trips. If I'm on business and without family, then I now stop and think before each trip though whether I am actually likely to take photos and need the camera or whether the Iphone will do. Generally for interesting cities (eg recently NYC, Portland) or great scenery (eg recently Whistler) the camera comes along, if I know I'm going to be in meetings most of the time or going to familiar places I don't bother.