I got the OMD with the M.Zuiko Digital 14-42mm 1: 3.5-5.6 II R and not ordered with the new electronic zoom, I do not like power zoom. The image quality is measured by the price, very good.
I have otherwise always shoot in RAW, but after some shots I can say that the JPEG images the camera absolutely enough for most shots and converting one saves on the PC. The conversion does the OMD very good. Only in critical lighting conditions, I still use RAW. Of course you have a little of the color saturation and contrast values preset but that's subjective and always corresponds to the personal taste that can and you should not count as a negative.
On the technical details I will not go, this one can read on the net enough.
I am not a professional and photography is only a hobby and from this point of view one should also evaluate this assessment. Important shooting situations are for me this holiday recordings, playing children and pets and for the camera's right class.