I looked at the Olympus. Can't remember why I didn't buy it, price maybe.
I wanted something for wildlife and closeups. The Nikon is supposed to be unsurpassed for closeups. I realized that any long shots I took of birds, etc I would likely have to digiscope anyway. And most digiscopers use the Nikon Coolpx 4500. The focus is internal, doesn't move the lens barrel ( common with all Coolpix?).
Actually, when I went to buy I planned on getting the Fuji 3800 ( 6x zoom). The salesman (I know and trust) pointed out the advantages of the Nikon, I researched some more and bought the Nikon.
My son takes stunning digiscope pics of birds w/ a Canon G3, but has it hooked up to a Swarovski scope, waaaaay out of my league. $$$$$$
The lens barrel moves out when you turn the camera on, but I don't know what's happening inside the barrel. One downside of the Olympus with the 10X optical zoom is that the barrel protrudes (even when the camera is off) so you can't pocket it as easily as many "flatter" digital cameras. You really have to wear it on a strap, rather than pocket it.