alain, you are right that this shot would have benefited from a tripod. in my experience with this system, it is better to get a long lens that has stabilization and the handheld shots (and videos) will show marked improvement. for birding while on missions where portability is a premium, i go for my olympus e pl1 + lumix 100-300mm f4-5.6. image quality is not exactly the best but in terms of value and comparative image quality, this is probably the best long lens good enough for handheld birding in the m4/3s world. it is slightly bigger and heavier but definitely the faster lens. just don't forget to turn off your in-body stabilization if you are using an olympus m4/3s body.
If I understood correctly, the 2x being referred to by the OP is the digital zoom, not the crop factor.
As for the illustration, it just shows how extra reach IS gained by using a cropped sensor over a 35mm sensor, not by physical focal length but by the smaller field of view (as it projects a "magnified" image into the sensor). This on the assumption that a 35mm-format lens is used and the pixel densities of the two sensors are the same.
But I would assume the E-P3 uses a lens designed for its sensor size, so technically there is no crop factor. ;D
E-P3 has a crop factor of 2x Really, no extra reach is gained - it's just zooming in on the same reach.
From panoramafactory: Because many people are familiar with focal lengths of lenses for 35mm cameras, the digital camera manufacturers choose to describe the focal length of their cameras by reference to the focal length that would produce a similar field of view on a 35mm camera.