When your first mount the 14-42mm micro zoom lens on the Olympus E-P1, you might see this message on your LCD: "Please check the status of the lens." Do not fear. Nothing is wrong.
All it means is that the lens is in the "locked" position. The message is E-P1 speak for "unlock the lens." All you have to do is twist the zooming ring to the left until you hear a click. Then lens extends, and you're in business.
When finished shooting, there's a little switch on the zoom ring that you hold down while twisting to the right. This allows you to lock the lens again so it's as compact as possible. This quickly becomes second nature. But it can throw you for a loop when you first get the camera.
More Information on the Olympus E-P1
If you're interested in the Olympus E-P1, check out my ISO Comparison post. I run at series of photos from the camera staring at ISO 100 all the way up to ISO 6400. I also have a podcast covering the features of the E-P1. I also have a First Look at the Olympus E-P1 article at Macworld Magazine.