If I can even swing this, my budget cap will be somewhere around $500.
Here's what I've got now: Olympus OMD EM-10 (Mark 1), and the m4/3 kit lens (12-50mm f/3.5-6.3 EZ).
What I like:
-- Good for video (other than the 29 minute limit with no automatic file limit roll-over: thanks, EU!), including the IS and variable-control motorized zoom.
-- Good for general photography, but not great (due to the lens).
What I don't like:
-- Not enough telephoto reach in some situations.
-- Not a spectacular portrait lens.
I see two ways forward. The first way is to pick up a lens to either replace or supplement what I have:
(1) Olympus M.Zuiko Digital ED 14-150mm f/4-5.6 II Lens
(2) Panasonic Lumix G Vario 14-140mm f/3.5-5.6 II ASPH. POWER O.I.S. Lens
(3) Panasonic Lumix G X Vario PZ 45-175mm f/4-5.6 ASPH. POWER O.I.S. Lens
(4) Olympus M.Zuiko Digital ED 75-300mm f/4.8-6.7 II Lens
Option (1) is versatile and has the MSC focusing motor, but loses the image stabilizer. Option (2) fixes the IS deficiency but is pricier. Options (3) or (4) get me the extra reach, and I continue using my kit lens for general duty.
The other way, mitigating against all that, is something like this:Panasonic Lumix DC-FZ80 Digital Camera
Or any of the similar options from Nikon, Canon, etc. The downside is that the minimum aperture on these things tends to be limited (f/8 in the above example). Since I don't have an investment in a lens collection, and the market for afforadable used m4/3 lenses is sparse, I'm starting to wonder if it's time to abandon my aging camera body and go for something newer?