Downsizing to M4/3, what camera do you recommend?

I would keep your lenses and buy the EM5 with the kit lens, and give the system a try before you buy additional lenses.

As others have mentioned, the best lenses are;

• Panasonic 7-14 F/4
• Oly 12 F/2
• Panasonic 25 F/1.4
• Oly 45 F/1.8
• Oly 60 F/2.8 macro
  
• Oly 75 F/1.8
  

I think the 12/25/45/75 make a great kit. You can buy them all by selling one of your lenses

--
.Sam.
GF1+20+45 & Pentax K20D - ist* DS - ZX-5 - LX
Photos: http://www.flickr.com/shadzee/