I love the O45, and within it's niche it is great, but I couldn't hand-on-heart say that I think it is a better lens than the PL25, which also has the advantage of a focal length better suited for general use. Sharpness alone isn't an area where I would separate the two lenses.
I own the 45mm and do all my walks with it, but many times it isnt wide enough even walking across the street to get something in view wont be enough in rare cases, those times are when i crave a wider lense. I think a good dollar for dollar combo is the sigma 19mm and the oly 45
I vote for the 25mm 1.4, which is far more flexible than the the 45mm 1.8. The 45mm would probably provide better bokeh however due to the longer focal length.
I'm with the majority. Get the 25mm. I have both and use the 25 the most. That being said I'm going to leave the 45mm married to my camera for the next couple months as part of a challenge. Both are great lenses!