OM System recently announced a new OM-1 Mark II camera with a few minor updates like improved autofocus, Live GND (Graduated ND), etc. Here is a report from pen-and-tell – they think the OM-1 camera firmware updated version 2.0 was deliberately shelved by OM System so they can sell a new Mark II camera with a minimum effort and expenses (yes, the camera does have a larger memory, but the rest of the improvements could have been done with a firmware update – see for example what Nikon could fit in their latest Z8 firmware update):
Apart from the larger buffer (hence the 128 ND filter) and the rubberised dials, all the “features” [of the OM-1 Mark II] could of course also be added to the OM-1 via a firmware update. According to my information, this FW update is also available, they just prefer to sell the OM-1 II. There will only be a firmware upgrade for the OM-1 if the shitstorm from long-time users gets too big, otherwise it will remain stowed in a drawer.