I didn't read every post in chain, but let me give you my experience.
I use a Zen dome, first on an epl2, then an epl7. It's a great option as I can shoot the 9-18, 14-42 and 60mm macro all behind the same port. Extremely versatile. This the one for the 9-18:
Zen Dome Port for Olympus 9-18 Lens
The 9-18 is fine for me, but I'm probably not as much of a pixel peeper as some of the other folks.
And, yes, the 60mm does great behind that same dome. You lose a little magnification, but the 60 is fairly long focal length anyway and it doesn't matter to me.
I see you have the em5 housing with different port type. You can still use the dome I mentioned, but you need an adapter.
As far as cost of 12-40, if you pay attention to olympus outlet, that lens can be had for about $550, but you have to jump when it comes up.