You're right, of course, about wide angle. Between the forthcoming 9-18 and the current Panny 7-14 the µ4/3 system is now well cared for in the wide angle arena.
This DPR preview gives some further tantalizing details.
We keep noting "smallest, lightest interchangable lens digicam" with each successive µ4/3 generation. The E-LP1 would seem to be close to the limit for shrinking the format (although it's a whopping 13g more than the GF1). My only "concern" on first glance is the lack of a control wheel. I'll be curious how easily it accommodates rapid exposure compensation, ISO adjustments, shutter speed/aperture adjustments and the like. It looks like you have to press a mode button then the direction buttons to change parameters. Not as speed-friendly as a dial.
The onboard flash and the ability to take the accessory EVF really completes the package.