Olympus introduced the SP 560 as an upgrade to the original SP 550 ultra-zoom camera sometime in 2007... here's a bit about the camera - well, I'm focusing on the cons more than the pros... most other reviews online would tell you all the good stuff.
Well, my first disappointment was that although the lens has a WIDE zoom range (27 - 490 mm if I'm not mistaken), it is not very sharp and images are 'soft'. This is bad for a macro photographer because the fine details of subjects aren't sharp.
The second disappointment is due to the small CCD size and high megapixel rate, probably. Olympus increased the resolution from 7.1 megapixels to 8.0 megapixels without increasing the size of the CCD.
At 50 ISO there is very little 'noise' but at 200 ISO there is enough noise to render a cropped macro photograph useless. At 400 ISO you can forget about posting your photographs on deviantart because they are incredibly grainy. Because of this, it is hard to take close-up photogaphs at dawn or dusk as the light isn't enough and at an aperture of 8.0 and 50 ISO, the shutter speed is reduced to 1/30 - 1/50 seconds which is too slow to capture good shots of bugs moving around.
In broad daylight, however, at 50 ISO and an aperture of 8.0 the shutter speeds can reach 1/640 seconds and the image quality is great.
The camera has an anti-blur option which comes in handy when using the super 18x zoom, but it adds noise to the image, making it more grainy. It's best to turn the anti-blur option off and use a tripod.
There is a Noise Reduction mode (if you can find it under the haphazard menu system) which is supposed to reduce noise but I haven't tried it out yet.
The saving grace of this camera for a photographer who is really into photography yet cannot yet afford a DSLR is the option to save images in the RAW format, but it takes about six or seven seconds to save a RAW image

. The ultra-zoom lens has a really long range, which is an attraction at first, but unless you use a tripod it is impossible to get clear photographs of birds and such.