They had a deal going the last few days, buy a GH1 and get $100 off a Panny lens as long as you buy them together. I put in an order at 2:15 AM, really happy now that I didn't wait....just wish I would have ordered another.
Hmm..
I have the GH2 with both of these lens.
Well, since the 14-45mm is $300 and the 20mm f/1.7 (real nice for tighter DOF and fast) is close to $400 (or more if you can find one), I might wander to the 20mm and then buy the 14-45mm later when you can justify it. But, if you're looking for a more versitle lens, of course the 14-45mm (f/3.5-4.5). Although, at f/3.5 (14mm) it's not that well suited for lower indoor light conditions.
BTW, I've seen the Panasonic 20mm f/1.7 sell in the US close to $700 (ebay) when out of stock eveywhere. This was the case two weeks ago. LOL
I do see the "big guys" do now have them in stock, but for how long. I'm not trying to scare you, but I've been there.
Before the quake and all the 20mm disappeared, nice used 20mm were selling in the $250-$300 range give or take a bit. New ones back then were in the $340 ish range.
Go for the new 20mm now and look for a walk around lens later.
Check the links in my signature for updated versions of my GH1, GF1, and G2 patches. I've improved reliability in many cases and incorporated several new features provided by the latest versions of PTool.