Yeah, the camera piece is something I haven't quite decided yet. I'm still praying that it gets found. I'm on day 4, and two emails from the airports saying they haven't found it yet. Right now I'm leaning slightly towards another EM1.2 as prices have dropped significantly on them, and I know it's a great camera. The 5.3 for its parity with the 1.2, and the 1.3 for some of the new features both look good too...So sorry about you losing your camera. A bad dream for any of us.
I just bought a 12-40 again, after selling my original one and missing it. But, I wasn't missing it because of the manual focus clutch. Yes, I found the clutch quite handy, but I usually use S-AF+MF or C-AF+MF, so if I get close with AF, I can fine tune with MF. The 12-45 is quite a bit lighter and smaller than the 12-40, and especially if you were thinking of replacing the EM1.2 with a EM5.3, the 12-45 would be a good match.