Comparison old vs. new:
-OM-System Zuiko MC AUTO-S 1:1.4 f=50mm, Serial 815100
-Olympus Zuiko Digital 50mm 1:2, Serial 010201111
Focusing distance 3mtr, Tripod and Anti-Shock 5sec, SHQ JPG with camera internal sharpness +3.

Sharpness:
Wide open, the old f1.4 lens has low contrast and is fuzzy, but this 'glow' can be pleasant for portraitures.
Stopped down, it stands surprisingly well against the new lens.
The new Digital Zuiko f2 lens is excellent even wide open.

Bokeh:
Wide open, the old f1.4 lens has nice unsharpness rendition in front of the focus, but unpleasant highlighted 'rings' at the IMHO more important back of the focus.
I found this wide open Bokeh characteristic on all my old 50mm OM Zuiko lenses, but the Bokeh is always getting good when stopped down one stop.
Here the new Digital Zuiko f2 is better, having a nice rendition in front and even better at the back of the focus, even wide open.