This is a great compact kit for photographer new to M43.
Later add just one of the 15mm, 20mm, or 25mm f1.7 lenses and the 42.5mm f1.7 and you're "done". That four lens kit will covers the majority of all photography for just about any beginning to intermediate level street, portrait, vacation/travel, outdoor and well-lit indoor event shooting.
While this is a very good price, it's a fairly common deal.
I, like others, sold the lenses and kept the body. I keep the Panasonic body to loan to friends. It's also useful on those "trade up" deals that Olympus offers.