VERY IMPORTANT: Due to a variety of problems we have encountered, we do not recommend using Olympus lenses for video use with Panasonic micro 4/3 cameras/camcorders. Rent at your own risk.
The 14-54mm is a good quality wide-to-medium range zoom lens. It has excellent edge-to-edge sharpness and a wide enough aperture to be shot with effectively in reasonably low lighting. It is of higher quality than the kit lens, but at a much better price (and longer range) than the 14-35mm f/2.0.