Lumix lenses on E-PL?

I'm currently a Lumix owner (GF1 + 1-2 Lumix lenses). Unfortunately u/w housings for the GF1 are ridiculously expensive. As such I'm thinking of the Olympus E-PL body (PT-EP01) since that combination is cheaper than a GF1 u/w housing alone. But I do have a few questions :-

1) How well do the E-PLs interface with the Lumix lenses? I know they should be at least 99% compatible but in terms of performance, or any loss of functionality?

2) Any idea if the ports for the PT-EP01 housing accept Lumix lenses, or Olympus Zuikos only?

Cheers