Unfortunately the GM5 has been discontinued, but they are still around… I consider three levels of camera grades: Consumer, photographer and professional. The Lumix GM5 is a consumer grade camera. I just want to make this clear beforehand. After losing my Fuji X100S and Olympus OM-D E-M5 to a boating mishap I needed to buy something quickly, discreet and cheap but good enough for street photography. The new Olympus Pen-F would have been my choice, or an APS-C sensor camera, but you don’t get much for around $600.
Quality wise, I am still on the fence, mostly because of the 12-32 kit lens, which isn’t much better than the bottom of a coke bottle. Well, I may be a bit harsh, but at f8 and darker the lens looses a lot of sharpness. Combine that with high ISO and you get unusable images. I set the aperture to 5.6 and leave it there with auto ISO in aperture priority mode. Kit zooms suck, and this one is no exception. With good light and the correct aperture though, you can get nice images.
I plan on buying the Panasonic Leica Summilux 15mm f1.7. It should be head and shoulders above the 12-32 kit lens. Only then will I be able to decide if the Micro-4/3 sensor size is good enough for my type of photography. Should you get a GM5? If you need something small that you can carry in a vest pocket, then yes. The ability to change lenses and the viewfinder are good arguments in favor as well. Just do not expect high quality images with the kit lens. My review of the GM5 with the Leica lens will come later.