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EOS Utility will not let you do anything with it like remote shooting, though Canon apparently said in the past it would be possible. If you now look at Canon's website, the compatibility table indeed states that the EOS M is not supported for tethered shooting.
However, if I hook the EOS M up to DSLR Controller (without further modifications), it clearly supports some form of USB control. I can change aperture, shuttertime, ISO speed and exposure compensation, and view (changing fails) several things like whitebalance and drive mode. Capturing doesn't work (so far) either, and there's no liveview.
This is all very early to tell (I've played with this thing a shorter time than it took me to write this post), and I'll investigate further, but this is pretty weird !
Crippled on purpose i wonder +Chainfire? Hhhhhmm
+Chainfire Sounds a lot like the situation with tethering on Pentax K-7 and K-5. Officially unsupported, but there's some unofficial functionality in there.
Hey Chain, can i have your Contact? i have some questions about dslr controller (galaxy tab2 to canon 5dmk3) is not running :-(
Canon will soon rename the "EOS M" to "Powershot M" as all the features of an "EOS" camera are wether missing or crippled on this camera. The only EOS-like feature is the APS-C sensor. That is not enough. Naming it an EOS is a misleading fake.
Note that Canon also removed tethered shooting from the last generation of Powershot.
Well. When you add that to the super slow auto focus. You get a failed camera. Let's hope a revision with a higher voltage battery will give this camera the power to move glass faster than now