If the Oly had a 24mm wide end, a multi-aspect sensor, and a distance scale/DOF scale for manual focus (which I don't think it does based on all I've read, but please correct me if I'm wrong), I might prefer it to the LX7 for the flip screen / touch screen alone - which I LOVE on the OMD. But without those things, the LX7 has a better set of tradeoffs for me. I'd much rather have the greater range at the wide end of the lens than the long end personally and the multi-aspect sensor is something I wish EVERY camera had. With that and the very handy external switch, I end up using that a LOT. And with its step zoom, manual focus controls, and its ability to remember the last manual focus setting when you switch back to manual focus (also insanely quick and easy with an external switch), I find the LX7 roughly as easy for zone focussing as the Ricoh "snap focus" system which was designed specifically to facilitate that. I don't think the Oly comes close to that functionality, which matters a lot to me but probably a good bit less or not at all to the vast majority of folks looking at these cameras. Actually, if the Sony had included any sort of distance scale as part of its manual focus system, I'd have probably stuck with that despite its funky and "un-engaging" interface.
Tradeoffs, tradeoffs, tradeoffs...
-Ray