I wonder which one of the two cameras should I get. Here is one comparison. I've seen good photos on flickr using both cameras, so I'm not sure. People say that the Lumix's aperture is slower than the Olympus. EDIT: Also, is it possible on the Olympus to disable the bokkeh effect?
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The bokeh is influenced by the aperture you choose. It is not an effect.
The wider the aperture you choose, the less depth-of-field you get which is what makes bokeh appear. With the Olympus you have more latitude to choose less depth-of-field but you can choose an equally large depth-of-field on both camera.
The Olympus ZX-1 is really nice and produce very good quality images for its class. It also handles very well because of its well-placed dials. I'd go for the ZX-1 except if ultra-wide-angle is very important for you.