Summary: Couple this lens with the 50-200, and you'll get an awesome multi-purpose kit from candid to events to serious studio work. Th 14-54mm is very sharp, though ranked 4th in my Zuiko Digital lens uber-sharp ratings: 1) 50mm, 2) 11-22mm, 3) 50-200mm and 4) 14-54mm. This lens is a God-send.
Pros: 4x normal zoom, multi-purpose lens, fast focus, accurate focus, compact design, very sharp with pleasing bokeh
Summary: I purchased this lens because I wanted to upgrade from the Olympus kit lens to a higher quality lens. I have been very happy with this lens so far. It's a faster lens than the kit lens and is built like a tank. It weighs twice as much as the kit lens.
Pros: Speed and quiet when focusing, Superb image quality, Built tough, great for hazardous situations
Summary: There are better built zoom lenses but this one is adequate for everything but the most demanding shooting enviroments. I have no qualms taking this one out in the field daily. And the colors produced by this lens are the best I have seen in a long time.