“For many keen amateurs without a legacy lens investment” <- yes, that's me. The only additional lenses I had for the D40 were actually from the f401 and because they relied on the autofocus motor in the camera, they won't focus on with the D40. So this whole experiment is to pre-empt the build up of such a legacy…

I expected to miss the viewfinder more, and when I'm shooting with the camera at head-height, especially out of doors, I do notice its absence. But not as much as I notice the absence of a 'live view' screen now I go back to the D40. I'm not sure how I'd get on with an EVF, not because they're not great little monitors, but because reviews I've read say that in action, you do notice the fact they don't behave quite like optical viewfinders (eg. they're not quite as immediate). But if the m43 experiment goes well, I might open that option by upgrading the body. I think I can justify that – the GF3 was quite a bargain, especially second hand!

Very interested in your GF1 update – especially since you also see it as a (potential) stopgap if into m43. If I continue deeper into the m43 world, I may ask you a bit more about the lenses you mention! But that's for later…