Olympus OMD EM-5 body + the 45mm as my only lens (is it possible?)

I was about to grab the EM-5 kit that comes with the weather-sealed 12-50mm. But even the best reviews demonstrate a lack of sharpness in the mid-range.

Everything I read about the Olympus 45mm 1.8 says it's a sweet, not-too-pricy portrait and general use lens. And there's a $150 rebate right now!

Would it be absolutely wacko for me to buy the OM-5 body and only one prime lens?

Would a lens like the 45mm be manageable for someone like me looking for the sweet spot between sharpness and lots of bokeh?

Or would I find myself frustrated at the lack of zoom and flexibility that would be found in the 12-50mm?