I would not buy a kit lens at retail price, you'd be crazy to do that.
Look for either a 14-45 or 14-42 II (as good optically as the 14-45 is, but is much more compact), and buy them used. You should pay no mor ethan $150 for either of these lenses
That seems to be the grand old m4/3 kit lens, the Panasonic 14-45mm f/3.5-5.6. Apparently the sharpest of the low end kit lenses before the P12-32 and O14-42 pancakes came out. You might consider looking at those two instead, they are now the sharpest of the new kit lenses.
I wasn't implying any comparison between the 14-45 and the 12-32, only that the 12-32 is arguably the sharpest of the kit lenses in active production. Plenty of reviews online anyway,I'd be interested to see the 14-45 and the 12-32 compared... Any citation to back up your claim? The 12-32 looks so small and handy!