Olympus VR-340 has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor . On the other hand, Olympus VR-330 has a
14.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features TruePic III processor.
Below you can see the VR-340 and VR-330 sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus VR-340 and Olympus VR-330 Cameras
Olympus VR-340 and Olympus VR-330 have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Olympus VR-330 has 15% larger pixel area (2.04µm 2 vs 1.76µm 2 ) compared to Olympus VR-340, it has larger pixel area to collect light hence potential to have less noise in low light / High ISO images.
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 VR-340
or the
Olympus VR-330 ,
including hyperfocal distance.