Question on M43

Thanks for the suggestions. The Panasonic 14-45mm lens is not a newly releases lens. Is that correct?

Yes, it was the original kit lens with the first G1 body and has remained popular ever since. It's currently $267.99 at B&H.

Any comments on other Panasonic 14-42 lenses?

I have used the 14-42 II (2nd generation and current model, which is much better than the first one) and did not like it nearly as well as the 14-45 for the reason mentioned before: consistency across the frame, even though it is a tad sharper in the middle. At various aperture/focal length settings the corners could be much softer, and sometimes the sharpest zone wouldn't be in the center but nearer to one corner. In a nutshell it was not consistent. The 14-45 is very consistent and there is no particular aperture/focal length that I need to avoid or treat differently. That is a valuable asset when working out in the field. I can choose with confidence whatever aperture and focal length the scene requires.

Here is a photo taken with the 14-45 at Zion Nat'l Park. It was shot with a GH2, 17mm @f/7.1
Morning Light, Zion N.P. 14-45, 17mm @ f/7.1

Here's another, taken on my new G7, 24mm @ f/5.6

Big Spike, 14-45, 24mm @ f/5.6

I have never found the 14-45 to inadequately sharp, and I like very much its general rendering of subjects.

Here's a recent yacht picture

Yacht, West Palm Beach, FL, 14-45, 29mm @ f/6.3

I have never found the 14-45 to inadequately sharp and I like very much its general rendering of subjects. I'm extremely happy with it.

Also any comments on Panasonic 12-32mm lens?

I have no experience with it so I can't comment. I hear good things about it in the forum, but I've learned to take everything with a grain of salt because I often place value differently than others. For example, I value consistency more than sharpness. All the new lenses are adequately sharp but few are as consistent as the 14-45.

I hope this is helpful.

Regards,
Clayton