I think I agree with Warren L - at least in terms of the way the Oly 410 and 510 liveview is implemented. With the E330 LVA mode, you *can* 'see' and perform the autofocus while looking at the screen, and there's no extra mirror movement or shutter lag introduced. But that assumes you believe the LCD is going to show you well enough how 'perfect' your focus is. On a small screen, everything looks sharper to begin with, whether it's truly in perfect focus or just 'near' and in soft-focus. The whole argument about 'racking' just doesn't do it for me, its hard enough just station keeping long enough to let a good AF do its trick. If I wanted to play fixed-focus games, I'd have saved a boatload of cash and bought a used film dinosaur, and an extra large set of reef kebabs and grappling hooks.
The macro shots I've seen which I've really appreciated are so highly detailed, I can't imagine they were taken off the LCD except perhaps with a lucky selection out of many, many tries (but cheap throwaways is one of the advantages of digital, and better yet in dSLR due to its increased speed, unless flash refresh is the limitation). I bet even with the E330 live view A mode available for macro shots I'd have no choice but to use the optical VF to get focus right. And that is indeed going to be hard to do without bracing off something, if there's any current involved. Part of the challenge of UW photography, I guess.
While I was one of the ones who chimed in earlier on this thread saying I thought if your PRIMARY interest was macro a P&S might be more bang for the buck...after reading a lot of the opinions back and forth (including on the split thread) I'm becoming quite swayed the other way. I totally neglected thinking thru the optics of the lenses (bigger lenses get more light in) and the true 1:1 image. (Well, maybe not in the 4:3 world,
). I had justified my own dSLR purchase (again, disclaimer: not yet housed, so I'm talking thru me be-hind somewhat) by wanting to do more wide-angle...but now I'm just as excited about using it for macro work as well.
Hope this is pertinent to the OP, not to the 'hijack' subject. I guess I'm agreeing I don't see LV as a big advantage for macro, although (to me) it was a big reason I chose the dSLR I did.