I'll also jump on the bandwagon. I much prefer the Panasonic 14-45. To my eye, it just gives better contrast and popping colors with my Silver E-P2. Since I started in the mu43 camp, I've been through the E-P1, Black E-P2, E-PL1, GF1 and finally settled on the Silver E-P2.
Now, on to lenses, Wow, have I bought and sold lots and lots of lens in the 3 months since I've had my 4/3 camera body's. I started with the 14-42 kit, the metal mount one, then sold and when I got the E-PL1, it had the newer 14-42 Oly lens with plastic mount. I actually thought it was a better lens, not build wise, but sharpness and contrast/color I thought was just better. I kept that lens through some of my other purchases. Then I went through a manual focus lens fiasco, buying 4 Voigtlander manual focus lens and a Canon 50mm/1.4 with adapter. I don't have any of those lenses left.
So, here is what I've settled on after a long road of trial and error, of course the silver E-P2 body, but I only have 2 lens, both Panasonic, the 20mm/1.7 and the 14-45mm. I am very satisfied right now with my choices and the focusing speed on the 14-45 is very good, much better than the 14-42 I think. So, if you are looking at what one is best to keep, my opinion is the pany 14-45, but if you are wanting to sell the one with most value and what I think would sell faster, that would be the Panasonic 14-45.
Anyway, just wanted to share my journey so far in m 4/3rd's and good luck on your decision.
Jim