I have a OMD EM5 and one question.

Is there a way to assign bracketing to a function button ???.

Would be convenient if possible to turn it on and off without having to go into the main menu.

You can assign a bracketing myset to a function button. Just set up the camera as if your above to carry out your bracketing, then save it to a MySet. Then assign that set to your function button.

However the caveat (hopefully only for now) is that you must "Hold" the function button while engaging the shutter for it to carry out said bracketing set.

I hope that helps... and hope Olympus updates it soon, so we don't have to "Hold" the bloody function button to use the set. This is one of my biggest quibbles with the MySet feature.

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Olympus OM-D E-M5 (Olympus 17mm f/1.8, Olympus 14-42mm f/3.5-5.6)
Minolta x370n 35mm (Minolta MD 50mm f/2.8 | Minolta MD 135mm f/2.8 | Sigma 35-70 f/2.8) ‹‹ Now used as legacy glass
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I made a myset for bracketing and continuous shooting, and assigned it to one of the custom functions. The problem is that when I use that, it also reverts to the aperture I had set when I created the myset. I'd like the myset to keep everything the same, just switch to bracketing and continuous shooting. Is that possible? Thanks.

nope

Thanks for the quick, but disappointing, reply.