I've had the Olympus, it's a great monitor but no way in hell is it worth anywhere near $399, especially in the condition that most PVMs are in these days. I paid and sold mine for $70. $200 total for the 14" is a joke too, I wouldn't pay more than $50 for it.
Now the reason I ditched the Olympus is because I replaced it with almost that exact Wega, although mine is a FS120 I think. Found it for $12 on Craigslist. Comparing the Olympus in RGB to the Sony in transcoded component, the Olympus is a little better but it's not that big of a difference. You know what is that big of a difference though? THE SIZE. You give up a little quality but you get a much larger screen that is still better than most CRTs you'll find out there, including most arcade monitors. Also, depending on the source composite is probably going to look better on the Wega since it has a fantastic comb filter, although you don't notice too many composite artifacts on the PVM since it's so small.
IMO if you don't already have a PVM that you got back when they were cheap or you get lucky on craigslist or something, leave them to the fucktards willing to spend all their cash on a tiny screen with bad geometry because OMG RGB. Grab a cheap late model Wega and a RGB to Component transcoder and spend the cash on games instead.