I can see the newer 14-42 is smaller and lighter, but what about performance? Can you turn the IS on/off on this lens with Oly bodies? Is the silver color silver or gray? I heard the 14-45 is the better lens of all the kit zooms, but the reviews over at ephotozine.com show the new one is very good as well. However, I prefer the opinion of those who have tried the lens! (the 12-32 is good as well but lacks the reach!) http://www.ephotozine.com/article/panasonic-lumix-g-vario-14-45mm-f-3-5-5-6-zoom-lens-review-17762 http://www.ephotozine.com/article/panasonic-lumix-g-vario-14-42mm-f-3-5-5-6-ii-lens-review-21563
I like the size/looks of the newer 14-42 II, but I much prefer the 14-45 build quality. It's up to you how much you want to spend.