[felix]

For a 24-80mm f5.6 FF equivalent. [...] Nice lens for the platform, but not really competitive across platforms then. 

 

While you are correct with regard to the FF equivalence, I don't think it does this lens justice.

As I see it, the main purpose of fast standard zoom lenses is not minimal DOF, but versatitiy with respect to both focal lengths and lighting situations (indoor photography without flash etc). With f/2.8 and a usable ISO of 3200 (maybe even 6400 in a pinch) on the OM-D cameras, this lens offers just that.

Another thing to be noted is that this is Olympus' first standard zoom that you can actually stop down without being limited by diffraction. I expect to see some very good performance at 40mm f/5.6 with this lens. 

 

As far as competiveness across platforms is concerned, I don't think that MFT ever will be (nor wants to be) competitive with FF cameras in terms of high ISO performance & shallow DOF. It's just a matter of what you consider "good enough" in those areas and how you value other aspects of the systems (e.g. size, weight, and whatnot).