Remember, IS has no effect on subject movement, only camera movement. LV helps you be aware of your environment as you are taking a shot and often brings an ease to your physical / body movements required to get the shot. Good luck...
I would say they are both very important, but it all depends on your shooting style and the most realistic question: How much would you use them? Personally, I think you should go with Olympus. Having both IS and LiveView at your disposal would make more sense I think. Even if you don't have a macro lens, you can always make do with zoom with cropping in the meantime..
I would also like to add that if you're doing Tripod based photography for lots of objects at at time, LiveView might actually be less import. With product photography, you'll probably end up using the same exposure image to image. Product photography isn't really a creative outlet either, so you shouldn't need to "preview" your image in advance if you know what the exposure will look like. I think this is your vote though. LiveView is handy in many situations..
If you don't mind spending more, Canon should be coming out with a successor to the XTi soon and should have LiveView as well. These are only rumors, but are VERY predictable. The technology has already trickled down and the lifespan of the XTi is wearing thin. Remember that the Olympus has in-body IS and the Canon is lens-based...
I would not do product shots without live view..
(I use e3 and e510, but also pany fz30 and other digicams).
LV has given me results I could not hope to have otherwise..
Bryan~(pic stream: http://www.flickr.com/photos/linux-works ) ~..
If you like macro, the E-510's live view is a really nice feature, if you're putting the camera on a tripod. It eliminates the crouching down while looking through the viewfinder, which causes back pain. The LCD picture color also changes as you adjust the white balance. The E-510 has a custom WB setting that allows you to change the setting from 3000 to over 8000 degrees K in 50 degree increments, by turning a dial. As the setting changes, the color on the screen changes, too, so you can match the subject very precisely..
You have to use manual focus when the Live View is activated, as the mirror flips up and blocks the autofocus sensor. I use the Sigma 105mm, which has a nice mechanical manual focus capability. I would not use Live View on moving nature subject, i.e., insects, as it takes a long time to take the picture. The mirror first has to drop down, then after focusing and setting the exposure, it flips up, back down, and then back up. So Live View is for motionless subjects..
I'm not sure if IS works with Live View engaged, but if you're using the camera on a tripod, Olympus recommends using IS, anyway.http://www.pbase.com/oldhiker..
Put simply; the bigger the lens (physically) then the more you need IS for hand-held shooting, and particularly in low light scenarios..
Live view is nice, but IMHO not an *absolute* necessity..
Only on tiny P&S's is IS sometimes overkill. I've got a Fuji E900 without IS, but I never get a blurry pic due to camera shake because I know how to breathe properly..
If you are used to using liveview on a p&s, the camera itself weighs far less than a dslr. with a p&s you are holding the camera away from your face to SEE THE LIVEVIEW, you can get away with this method of holding the camera because of the p&s's weight..
But when you go to a dslr with a heavy lens you want support, this means that till liveview, the camera was up against your face and you were looking through the viewfinder. in this position the dslr was also being stedied. now imagine a dslr liveview, the only way to see the liveview screen is to hold the camera away from you supporting it by your arm length. this goes against every rule of camera holding that was ever used or written. with a dslr you want to be as steady as possible. if you are think of IS(canon) saving the arm length situation, do not.
IS was made for the shaking that is in all our hands..
Liveview in a dslr is made for those situations in which it is awkward or impossible to see the viewfinder. examples-very close to the ground underneath a tripod(use an articulating liveview to swing the screen out to compose and shoot; at a parade or in a crowd in which you are blocked from seeing the scene(flip the articulting srceen out at a 90degree angle to the camera and hold the camera upsidedown over your head, you can see the screen and shoot)..
This was the thinking behind liveview in dslrs, not everyday use. the current liveview screens all have a slight delay in the view, but the viewfinder of a dslr in real time. you can shoot with a viewfinder knowing that what you see is what you get. but with liveview you are a little behind...
I am down to a choice between two cameras, the canon E350 and theOlympus E510..
I am attracted to the canon because I can get one for a great pricewith a macro lens, but I am really taken with the IS and the LiveView modes as on the Olympus..
As mentioned in my post earlier, I will be doing tripod mountedproduct photography, (hence my interest in the Live View mode) but Iwill also have my camera to photograph at live events so I wouldn'thave a tripod with me, which is where the IS would come in handy..
If I get the Olympus I won't be able to get the macro lens right now,but I guess I can always add this at a later date..
Thanks for your help!.
I'd like to have the option of live view on an SLR if it doesn't compromise the optical view finder or drive the cost of the camera way up..
I didn't think image stabilization or shake reduction was necessary until I had it. Yes, it won't help to freeze fast moving subjects in low light. If you're in a situation with a slow shutter speed and relatively static objects IS/SR is nice to have..
Over the holidays I got some grab shots lit only by low level available light. One in particular was my daughter decorating the Christmas tree. She was lit only by the tree lights. I was at iso 1600 with the lens wide open (21mm @ f/3.2) and had to use a shutter speed of 1/8. The occasion was _now_ and there wouldn't have been time to grab a monopod or tripod. The perspective I had to shoot from didn't afford anything stable to brace with.
She's old enough that she stood still and posed, similarly for the adults. Lol, I think I have them pretty well trained that if they see me point a camera at them they freeze until they see me take the camera from my eye...
No hesitation when capturing moments..
Helping other is doing good for yourself, and treating the earth a little better will help the next generation.http://moments.zenfolio.com..