The only native m4/3 option is the L/P 45/2.8, which isn't cheap, but does cover both portrait and macro needs. Reviews seem to be mixed, but I think it's more along the lines of "not as superb as I'd expect for the name/price," or "the 4/3 50/2 is better in some respects."
The 50/2 4/3 lens should also work well, with an adapter. I don't think it's compatible with 1st-gen Panny G1/GH1, though.
You can check on opinions about these lenses. The 45/2.8 goes 1:1 and has OIS, the 50 is faster but only goes 1:2, has no OIS, needs an adapter, and doesn't focus nearly as fast. My recall on optics is the 50/2 is slightly sharper in the corners wide-open, while the the 45/2.8 has less chromatic aberration.
I've tried both, owned the 50/2 for a few days, ditched it quickly due to slow af. I've got a 55/2.8 Nikkor Ai ($80?) for macro and a jillion fast 35-50mm mf lenses for portraits. I don't need af for these, so I'll spend the $800+ for the 45/2.8 elsewhere.
If you're willing to look at 4/3 alternatives, the 12-60/2.8-4 might still be close to 2.8 at 35-40mm, and though big/heavy, the 50-200/2.8 is 2.8 all the way through. I think both will af on all Oly and later Panny m4/3. I'm not sure about G1/GH1 compatibility, that's easy to check.
As to the holes in the current lens lineup, there's no doubt they exist. But everybody wants something different, and it's barely been 2yrs since the system hit the market. It's going to take some time to flesh out the lens offerings.
I have close to zero need for a native m4/3 40-50/2.0-1.4, doesn't seem at all stupid to me that's missing. Don't need it, move on. But I'd dedicate a body to a 10/2.8. The 14/2.5 is on my short list, that was a great move, but I'd inform on my neighbors for a 17/1.2. Not offering _those_ is stupid.