You can pick up a used Oly E-1 for around £250... Including the big battery pack. Lenses are available, the 40-150 comes in under £100 NEW, so a used one will be less.
See the Donington Testing thread for images this lens can produce?
There are plenty of other options based around Canon and Nikon and Pentax and Minolta/Sony, just don't buy NEW...
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