Olympus 550WP has a
10.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor . On the other hand, Olympus VH-515 has a
12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized BSI-CMOS sensor and features TruePic III+ processor.
Below you can see the 550WP and VH-515 sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus 550WP and Olympus VH-515 Cameras
Olympus 550WP and Olympus VH-515 have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Olympus 550WP
or the
Olympus VH-515 ,
including hyperfocal distance.