OM-D w/ Panasonic lenses -- any issues?

I've been considering getting into m4/3s because of several lenses, all Panasonic (14mm, 20mm, 7-14mm, perhaps the collapsible 14-42). Finally, there's a body that appeals to me, the OM-D.

Are there likely to be any issues using those Panasonic lenses with the Olympus OM-D?

Compactness is very important to me -- are there any other small lenses that may work well with the OM-D?

Thanks for any thoughts or comments.