I know it goes with just about any new camera launch, but it is very frustrating not to have any idea when my pre-order might actually be filled and that it seems to be taking forever! There appears to be little concrete news, but it does seem that both Olympus underestimated the demand for the new OM-D E-M5 and the orders have been extensive…so go Olympus! They needed some good profit making news.
Unfortunately it seems like no or very few body only configurations have shipped yet, mostly ones with 14-42 or 12-150 lenses and also that silver bodies were in much higher demand than both Olympus expected and have been out selling the black bodies. Because of that the silver configurations may take until mid May to fullfill all pre-orders according to Olympus Japan (unclear if this applies to the rest of the world, or only the Japanese market, the google translation was not entirely clear). http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.olympus.co.jp%2Fjp%2Finfo%2F2012a%2Fif120419em5j.cfm
At any rate, I have one lens so far (Sigma 30mm f/2.8 DN), lens hood and 46mm polarizer here now. The memory cards and FL-300R flash should be on their way today and here probably on Monday based on B&H’s tracking information. The OM-D…no idea. The Panasonic 14mm f/2.5…no idea. Tracking information there says it cleared ISC New York on the 13th…but still nothing on my door step. Though, from a little searching it seems like that just means it likely has hit customs, not that it has necessarily actually cleared customs and might take 3-10 days to finally clear customs AND reach my door step (GRRR!) from the time the tracking information says ISC New York. However, that lens will probably be here before the OM-D shows up.
Also Cameta camera, via Ebay, has a great deal going on on the Olympus 40-150mm f/4-5.6 lenses right now http://www.ebay.com/itm/200733805585?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649
$159 shipped for factoryrefurbished pieces. At any rate, a great deal. I ordered one for my Wife/me. She’ll probably use it more than I will on her E-PL1…but I am sure I’ll borrow it from time to time 
Yeah it’s been frustrating to say the least! If you don’t mind the black 14-42mm kit, Amazon US has been intermittently listing some in stock.
BTW I had to give up my silver body pre-order for the black one *crying*
I am holding the line for now. I have my usual big family vacation Memorial day weekend. If my silver body only preorder hasn’t shipped by early the week prior I’ll probably try to switch to whatever is available.
The wait is still killing me. That and my pany 14/2.5 has been sitting in customs in New York for just over 2 weeks now. Sheesh.