"Out of the Box" B&W: GF1 or EP-1/2?
I guess it might depend on what your goal is. If you are trying to emulate the exact look of a particular B&W film, then I'm not sure that either camera will do that. I don't know enough about B&W on the GF1, so someone else can comment about that. The E-P1 gives you several things to work with, first there is a dedicated B&W grainy art filter, which is extremely high contrast and has film like grain but it is artificial and applied with software. Second there is a B&W "monochrome" mode. In the Monochrome mode you can adjust contrast, sharpness, and apply color filters (Red, Yellow, Orange, Green) to darken the sky or whatever, I like the Red one, works just like a Red filter on your old camera. You can also set high ISO to get some grain, but it is not exactly like film grain, and even at ISO 6400 there is not always enough of it. You can get a lot of B&W looks by messing around with the available controls though.