^^ Shutter lag is a most irritating thing and it is most irritating when you press the shutter and after 2 seconds only does the picture get clicked.
But at the same time, most 3x zoom cameras come up woefully short on the zoom range. I feel that 5x zoom range should be a minimum. So if you are going to shoot family shots or still shots, then go for the Olympus.
I would suggest you try the camera first and see if you can live with the shutter lag of 1.65 secs. It seems to be quite long. Anything lower than 1 sec is good enough.