I do. I own a E-420 but I use this for a very particular purpose: to take pictures of my daughter and be able to share with relatives who live in a different country. I always use ISO 100 (with flash indoors) and therefore cannot complain about noise, which is often reported to be quite high at higher ISO when compared to other entry level cameras. I am also very happy with the performance of the kit lens. For what I use it for, the results are quite good and certainly more than good enough for sharing pictures over the internet and smaller prints. I also like the small size of the E-420 as it is not too much hassle to carry out on days out and family events.
However, I should state that the Olympus E-420 is not my main camera. For more 'serious' photography I still use film in a Bronica SQ-A or even a Pentax Spotmatic F and I take much more pleasure in using those than the Olympus (something about their mechanical feel I suppose).
In summary, I like the E-420 because it serves the purpose I bought it for, but be aware that the E-system has its limitations (noise at higher ISOs being one of them). Do your research carefully and compare sample shots from sites such as DPReview. As Don said, there's a lot of misonformation about the Olympus cameras, often coming from people who never used them.