Most people who have used the Pana 20mm f1.7 agree it is better than the Oly 17/f2.8. Oly does not have a 7-14 in mFT but most also agree that this is comparable to any of the top lenses available. AFAIK, no mFT Oly lens seems to have enjoyed such consensus.
I have gotten very good A2 size prints from shots taken from my 14-45 and 45-200 pana lenses on a GF1. I have no experience with mFT Oly lenses so I cannot comment. All I can say is that for the price, the Panas are outstanding. And the EPL1 might also be a good 2nd body for these as well as my other legacy MF lenses.
With regard to the 20mm,I've never touched it before,but more importantly is the images,whether is it to your liking or not,whether RAW or OOC JPEGs,after all,photography is not the comparison of gears but painting with light,so if a certain camera works for you,good for you,if not,keep on searching for that "special one", as the saying goes "one man's poison may be another's meat"
every product has its good and bad points. its up to us to decide which one to get. i was excited about the E-P1, was impressed about the GH1 video capabilities, I liked the E-P2 and GF1 seems to have everything you need in a mFT (aside from IBIS)...
yet i have not bought one mFT til now as I dont have the urgent need for them especially considering the price. our choice doesnt have to be the top-spec, pound for pound king of cameras... its what we actually need and afford
now that E-PL1 is very much affordable, I think it will be my first mFT. though I'm still waiting for the E-5 and E-5x0/6X0 announcement, might not have enough budget for both hehehe. 43rumors is hinting at a March release
Good for you that finally a camera has surface that matches your criteria, I honestly hope that this camera will be a good performer and at the same time sincerely hope that controversy that GF1 is better or E-PX is better,all cameras have their pros and cons,go with what fits you best
Agree with you on that. Question is how they are going to label the 2 kit lenses? 14-42(M) and 14-42(P)?

My hunch is when the price of the E-P2 drops and E-P1's production run has ended, only 14-42(P) will be included.
Good question,my answer "I have no idea" :bsmilie:
But on a serious note,probably just no difference I guess,14-42 (P) has a plastic mount so that they can have a budget mFT camera,but probably on sale would be the metal one,either way,like the 40-150,probably they will just phase out the metal mount and sell the plastic one and at the same time decrease the price? No idea what Olympus is gonna do but they'll solve the problem and or take risks I guess,afterall... Which business doesn't involve risks right?