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I want to buy a new lens for my E-510 but I don't know which one I like best. I currently Have the 14-40mm lens and I want 1 more lens. I need something that will be able too zoom in pretty far but at the same time be able to function in a lot of situations.
Which would you all recommend? Right now I'm liking the 70-300mm

18-180mm Lens

70-300mm Lens
I've heard good things about the 70-300 and some mixed reviews of the 18-180. As a general rule 'superzooms' (ones that cover a very large range, like the 10x zoom of the 18-180) make a lot of compromises, which isn't helped by the need to make them affordable. Of the two that you've mentioned, I'd certainly look into the 70-300. It's tied for the longest Olympus lens (with the uber-expensive 300mm f/2.8, although there are Sigma lenses for 4/3 that go longer) and produces very nice images when there's enough light.

Something else you might want to look into is a used 50-200 f2.8-3.5. This is a very good lens, optically superior to the 70-300 and much brighter, and one of the true workhorses of the 4/3 system. It's recently been discontinued and replaced with a new model that has a different focusing motor. You won't see a difference in performance between the old and new models -- only the E-3 supports the faster mode right now -- but you might be able to get a good deal as the early adopters upgrade to the new model.
Is the 50-200 lens more expensive then the 70-300?
Why on the Olympus site do I only see Zuiko lenses and not Sigma lenses?
I mean the 14-40 lens is a good everyday lens but sometimes I would like to really zoom in on a subject.
The Olympus sites only show the Digital Zuiko lenses because those are the ones Oly makes. (They are sometimes just called Zuiko lenses, but those properly belong to the pre-digital OM system. Don't get them confused when shopping on-line.) The full 4/3 lens catalog, including Olympus, Sigma, and Panasonic lenses, is here: http://www.four-thirds.org/en/products/lense.html

The 70-300 is part of the 'standard grade' line, and is $400 at B&H. The original 50-200 is no longer listed there, but the new SWD version lists for $1200; used copies of the older lens can sometimes be found for half that making it a very good deal. It's part of their 'pro grade' line and has faster autofocus, is brighter, is weather sealed (like the E-3, but unlike the E-510) and has better optics. If you can swing the extra cost, you'll like it very much. But if not, the 70-300 is a very good lens and still gives you greater reach.
Hi and welcome! Some good advice from Matthew...

Just noticed that you mentioned that you wanted something that
"will be able too zoom in pretty far but at the same time be able to function in a lot of situations."

IMHO the 18-180 has a better "working" range and will fit the latter requirement better; although it depends on what you're shooting. If you're indoors the 70-300 will be very hard pressed unless you're doing some very tight portraiture shots at the wide end. However, since you've already got a 14-40, as long as you're willing to keep switching lenses, then the 70-300 would be a good bet.
Jules is right about the long range of the 70-300. There's also a couple of varieties of the 40-150 available as a shorter long telephoto; the compact f/4-5.6 is available new and focuses a little faster than the old version, but the original lens is brighter at f/3.5-4.5. These are the lenses that make up the two-lens kit with the E-510 (compact) or with other E-XX0 kits. It's another good one to look for used, but you should be able to find them both new in stores.