I tried and failed with the m4/3rds experiment, I sold all my DSLR gear last year and bought into the idea of smaller and lighter = easier to carry for the same IQ. Unfortunately, in my experience it isn't yet totally comparable.
I ended up using the same bag, so size wise, gained very little over something like a 500D (or your 3200). IQ wise, it was OK at smallish sizes (up to maybe A4), I couldn't really fault it at those small sizes (or web size). Unfortunately I found anything larger to really show up noise and it just didn't look as good.
I have had images with the Canon kit lens printed at 30"x40" which look excellent, unfortunately not once did I feel happy with even A3 from m4/3rds.
Those that love m4/3rds will jump in with comments about technique and post examples, all I can say is my technique hasn't changed since the 80's and and as a P/T wedding photographer for almost 15 years didn't have a client unhappy with any enlargement I supplied. Perhaps my standards are just higher than others.
With regard the kit, there are compromises as well, I bought a EP-L2 first, but found AF to be very leisurely and the body was pretty useless in bright sunlight. I then bought a Lumix G2 ( it was cheaper than buying an EVF) and found the EVF fairly annoying to use in low light, and the colours were slightly off as well. Where I found images on my Canon bodies to be pretty usable straight out the camera I found I was editing even JPEGs for colour balance.
I also eventually lost patience with the AF system, if something dared to be moving in the image it would invariably struggle, as it would also do when trying to focus on small items against a plain background (like a spider in a web against a wall).
I lost out quite badly financially, so am probably slightly biased, but feel I gave it a fair trial (EP-L2 with 14-42, Lumix G2 with 14-42, Oly 40-150, Oly 45 f1.8).
I might well try m4/3 again in the future when the newer 16MP sensor bodies get to a reasonable price, but I wouldn't sell my DSLR to do so.