I think for TS, dun even need 12-60. Just get the 620 or even 450 and use the 14-42 kit lens enough liao. I mean, look at Adrewine....he still using E510 with the 14-42 kit lens and has AMAZING photos.
i agree, the kit lens is no slouch. good colour rendition and quite sharp. i think it easily beats the canon version, and if you do not see through its weaknesses, then its still a good lens to keep.