Bought a m4/3 about two years back, with the idea of using it as a point and shoot cam for times when I do not want to lug my dslr around. Most of my photos are automotive related, so my "subjects" are mostly just cars. My choice of cam, given my budget at the time, was a Lumix GX1 and when mounted on the 14-42 kit lens, I find that it is just a bit too bulky to carry it around, especially when I'm trying not to stuff everything in my carryall bag. Although it struggles a little bit under low light conditions, it works pretty well in most cases when I've used it.
Earlier this year, I purchased a pancake 14/2.5 -- a smaller, flatter lens, but I still find the camera to be a bit too bulky overall. To be fair, I've not checked out any recent models so I cannot comment if the new breed of m4/3s are slimmer, or not. I love the 14/2.5 -- bought used, so it was cheap and it does produce some pretty good results in a variety of lighting conditions. Downside? The range takes some getting used to.
For most of my 'proper' work, I do still tend to stick with a dslr as it just produces better results. I've been contemplating getting another lens for my GX1... perhaps a sigma 60/2.8 but do not know yet if I can live with the range or with the bulk. If I could just have one lens, I think a 25/1.4 would be perfect, but even looking at used prices, I cannot yet justify the need to have that lens which I may use every once in awhile.
