I am posting three videos below. They are very raw, just simple tests to see how things work.
The first one is captured looking into E-M5 monitor (camera in my hands at about chest level) while walking. Everything set auto and IS OFF. The second one is captured as similarly as possible with the first one except for having IS 1 ON. The experience is now quite different, smoother, and shows the benefit of IS.
The third video is shot to see how C-AF and IS work in low light with rapidly changing camera-subject distance and various camera movements. The lens here is M.Zuiko 12mm wide open at F2.0. Continuous AF and IS 1 ON. I am moving on my knees, camera in my hands, bending here and there. The only light is 20W energy saving lamp. TV gives a good indication on light level. I think C-AF does a nice job without hunting and IS dampens my erratic movements quite well. The small size shown here does not show C-AF as it really is.
These videos can be downloaded at full HD size here.