Using Olympus 3040 with a 256 memory card (not Olympus) and loving it. 
One problem, however, is driving me crazy.
Shutter delay, from the time button is pressed until the picture is 
actually taken is excessive ... about 1-2 seconds. When trying to 
capture a moment, this is a big problem because the action is usually 
past by the time the picture is actually taken. I am aware of 
pre-focusing by holding the shutter release half-way, but this does not 
work in the situations I need.

Is there any way to shorten this delay time? Are there any cameras out 
there ( 3 megapixels would be sufficient) which have a very short 
shutter delay?