The 502 is pretty big, I wouldn't consider it for a strictly-travel setup. I think the 701 is more travel-sized and is more than enough for a m4/3 body.

As for those legs, they look the same or similar to a MeFoto/Benro set I looked at in a local camera store. I was disappointed in how flexy they were, but they did fold up really small.

For such low weight scenarios I like the Manfrotto 128RC head. It´s lightweight, compact and smooth to operate (using it since years). (And I am recommending it, altough I am not THAT of a Manfrotto fan ^^.) But only usable very good in the max. 1->2kg range. Optimum is around 1kg.

As legs I would choose a Benro A3580T or A4580T "classic" tripod. (They are folding down very well, are quite stable and you can "lock" the 128RC on them). Btw.: I am using actually the 128RC with an A2570T tripod as a lightweigt 2nd tripod system. It´s nearly a little bit too lightweight but stable enough with a (not too heavy) bag on it´s hook ^^. But if you can invest a few bucks more, get the A3580T or even better the A4580T. (Or if you really want something "rock stable", check out the Sirui M3004X.)

Btw.: The Benro tripods are also available as "clip lock" editions. (For example: A3580T = screw locks & A3580F = clip locks.)

Primer of sturdy and light system (new series of NEST tripods and their small new fluid head):