That's a fine price for the 14-42mm kit.
I got mine for $749 in May last year and realize I could have waited for a deal to come around, but have never had any remorse about it and have got countless hours of enjoyment out of it in the meantime (well worth whatever amount I may have saved).
I doubt you'll see it go much lower than that until the next Holiday sale cycle - maybe down to $599 except for occasional closeouts/refurbs/etc..