New info from China on old fourthirds thread that I haven't seen shared here yet.
All the info below is directly from the following url - scroll to the bottom to find the original post. Still could be pure speculation/disinfo but interesting nonetheless, especially the info re the sensor.

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hxxp://www.fourthirdsphoto.com/vbb/archive/index.php/t-14573.html

News from E-Club**** event in China Guangzhou. I just did the translation from Chinese to English.

hxxp://www.four-thirds.cn/forum/thread-51677-1-1.html

According to the host of the event, we got the following news:
1. E1 replacement called E3 and NOT E-P1
2. Position (price) higher than D200, kit (with 12-60mm) also higher than D200***, 12-60mm lens alone is selling around RMB6000 (US$750)
3. Support split image type manual focus (MF) but IS does not support MF
4. Sensor not from Panasonic or Kodak. The reason not to use Kodak sensor is that the yield is too low (or means production volume is too low), generate too much heat and use too much power. It use L-CMOS sensor.
5. Will be release on Oct (actually, the camera already available on May). Those leaked info about E-3 are basically correct. Of course, there is no MP3 function in the camera*. Those photo about E-3 in this forum** are real.
6. Plan to release 25mm or 30mm non-macro prime lens.

My personal note on the above translations:
* - There is some news said that there is MP3 function in E-3. My personal guess it is someone's joke about E-3 and the also sense of humor from the host.
** - It means the forum in China and not this one. Those photo are the same as the photo of E-3 in this forum. No surprise here.
*** - I guess it mean comparision the D200 kit with E-3 12-60mm kit.
**** - I guess the E-clue is organized by Olympus in China. You can see Olympus did some product presentaion there.