The Online Photographer has given the ZD 12-60 SWD top honors for "Lens of the Year," a distinction which the ZD shares with the Carl Zeiss Vario-Sonnar T* DT 16–80mm f/3.5–4.5. These were deemed "Two all-purpose lenses of impeccable pedigree and faultless performance." Having reviewed a number of online photos taken with the new 5X Olympus zoom, I too have been impressed with it's performance. Most 4x and greater zooms exhibit considerable barrel distortion at the wide end and poor rendering of bokeh. From what I've seen of the ZD 12-60, it suffers neither of these ills. It's also reasonably fast, sharp across the frame, quick and silent to focus, does not suffer significant light falloff at any setting, and is weather sealed. Again, these are my observations based on images reviewed online. I haven't gotten my hands on one yet. Check out the MTFs from Olympus:


Specifications:
Focal Length 12-60mm (35mm equivalent focal length 24-120mm )
Lens construction 14 Elements in 10 Groups. Super ED Lens, 2 ED lenses, Aspherical ED lens and 2 Aspherical lenses
Dust & Drip Proof Yes
Focusing System Floating & Internal Focusing System
Angle of View 84-20 Degree
Closest Focusing Distance 0.25m
Maximum Image Magnification 0.28x(35mm equivalent Max. Image Magnification 0.56x)
Minimum Field Size 62x46mm
Number of Blades 7 (Circular Aperture Diaphragm)
Maximum Aperture f 2.8 (12mm) – f 4.0(60mm)
Minimum Aperture f 22
Filter Size Diameter 72mm
Dimension Diameter 79.5x98.5mm
Weight 575g

My interest in the Four Thirds system was to obtain as small and light a kit as possible. Hence I bought an E-410 with the tiny, yet high quality 14-42mm kit lens. Going with the 12-60 instead would add considerable bulk and weight to my Olympus walkaround kit, so I will do my best to resist purchasing this lens. However, there seems to be no doubt that Olympus has produced a winner.