This is one lens I keep coming back to. It makes for a great holiday lens if you don't fancy changing lenses or just want to take one lens with you for convenience. There may be better lenses out there but I just like using this one. Results are good and adequate for my needs. It is also lighter than the Panasonic 14-140 which was designed for the videographer in mind. I use the 14-140 on a Panasonic G1 and the results are impressive. I do believe there is a quality assurance problem somewhere within Panasonic because not all people who bought one got a good copy. Luckily my copy is pretty sharp.
The 14-150 is not a fast lens by any means and the image quality at 150mm and f5.6 is not top notch. Stop down to f8 however and the image quality increses dramatically. Very acceptable. F8 seems to be the optimum aperture for the lens and sensor, because stopping down to f11 sees a dramatic image degradation, so mine stays at f8 most of the time at 150mm. Background separation is possible with all lenses, it just depends how far away the background is from what you want to photograph. It's a lot easier with fast lenses of course as DOF is quite small. This image was shot at f8 and the cloud in the background was miles away so the bokeh is quite good.