Heck. So Olympus basically made a modern day Leica III? Wonder what the boys in Wetzlar are thinking now.
@Hsg - the 28mm scene you shot won't have much subject separation unless you shoot with at least aps-c and f1.4, or full frame and f2. A Nikon 1" sensor and f2.8 isn't going to cut it with a 27mm equivalent lens.
My examples of the Panasonic GM1 and Olympus 25/1.8 show that subject separation is entirely possible with a m43 sensor and fast lens, albeit at closer range and with a longer focal length.
I know what you mean about tonal variation and dynamic range, and I'm sure most of us do. I do think that a good aps-c sensor has a bit more dynamic range than the contemporary m43 sensor, but that gap is closing fast, and in many situations the difference is negligible. The difference in tonal variance between a full frame sensor and m43 is still quite large, though.
For what you want, you're better off buying a modern aps-c camera like the newly announced Sony A6300 with a fast wide angle lens, or a Sony A7 variant with the Sony 28mm f2. You still might not get the subject separation you want if the background is too close.
Edited to add: you like to capture the entire body, without cropping limbs. I'm wondering if a sufficiently blurred background is possible even with a very fast wide angle lens. Check out what Scott Schuman does with The Sartorialist blog. This is much more in line with what you want, but he uses a full frame Canon DSLR, and the 85mm f1.2, and the 50mm f1.2.
http://www.thesartorialist.com/