I’ve written some equipment reviews in the past and they still draw visitors to my blog. I won’t do it for the 7-14/2.8. There are plenty to choose from online, and most of them also compare it with the Panasonic 7-14/4.0.
In short: yes, it is really that good. It is excellent at f2.8 and it gets even better when stopped down to f4 or f5.6. You can focus close, much closer than with the Panasonic, and when doing so, you may also enjoy some pretty acceptable bokeh.
And, yes, yes, YES, the purple reflections that troubled me so much that I sold the Panasonic, they are all gone. You can provoke ghosts and flares when you have the sun in your frame, but they are even less obtrusive than with the excellent Sigma 8-16 on my D300.
In other words: it is a killer lens. If you are willing to pay the price and carry the weight, you definitely want to buy it, and even more so, if you own an Olympus camera.