The EM's a nice little body, pretty much comparable to the lower-end Pentax M's. My first SLR was an EM with the Series E 50mm. It was Nikon's first Cosina-built low-end manual focus SLR.
Note that the Series E lenses are single-coated. Apart from that, they range from good (the 28mm) to superb (the 100mm, the 75-150 f3.5 zoom).