You'll hear a lot of anti-Oly stuff. However, I can say from extensive experience that they make great pistol-caliber carbines, and I bet you won't hear many people with actual accounts of problems with them. Their 5.56 ARs are not the best, but their pistol caliber carbines aren't quite the same sort of "budget" fare.
I am a firearms trainer for the National Guard and I train with 2 local PDs, so I do get to shoot quite a bit, and I take my two Oly 9mms (one for Sten mags and one for Glock mags) along with me quite a bit to shoot in between sessions.
I like the Sten mags because they are cheap and plentiful (about $3 to $5 each), and I like the Glock mags because they are compatible with my Glocks (obviously) and are readily available.
The ejector on the Oly looks like it would be weak, but I have 7000 rounds through one carbine and 3500 or so through the other and haven't had any problems.
They are very accurate and shoot everything I put through them, from crappy aluminum-cased CCI Blazer to IMI +P+ subgun ammo.
The Colt system is great, and one of my fellow instructors has a Colt 9mm carbine which I have shot quite a bit, but I haven't seen a reason to justify the additional expense. I am very happy with my Olympic pieces.