There's not a lot to say here, except that this lens, with its effective focal length of 150mm on the Micro Four Thirds system and a fast aperture of f1.8, sounds like a great addition to the pool of MFT lenses.
Olympus doesn't currently have any fast telephotos in its MFT lineup -- just some really clunky, slow zooms, and Panasonic's best equivalent only goes as low as f2.8 (for about the same $899.99 price). Olympus' 45mm f1.8 is one of my favorite MFT lenses, and this looks pretty similar. I can't wait to give it a shot, so to speak.
It's scheduled to ship sometime this summer.