Check out the newer SP-600UZ model. Here's what we had to say about the SP-500UZ when it was released in August 2005:
The Olympus SP-500 Ultra Zoom takes is a still camera that is keenly aware of motion. One of the more alluring features of the SP-500 Ultra Zoom is the predictive autofocus, which anticipates the location of a moving object at the decisive moment. This allows for clearer, more accurate photos of sporting events and always active children. The 10x optical zoom and 6 megapixel sensor are more than enough to deliver sharp, highly detailed photographs of your subjects at long distances while the Super Macro mode has you covered for extreme close-ups as close as 3cm away.