All this talk about the 16-45/4 and Sigma 18-50/2.8, I've got to weigh in with my findings too.

I owned (past tense) the SMC Pentax-FA 20-35mm f/4 AL, and now own the SMC Pentax-DA 16-45mm f/4 ED AL. For about a week I had the two both at my fingertips.

Here are a few things I noticed. At 16mm, the 16-45 has more barrel distortion than the 20-35 did at 24mm on a 35mm body. As a matter of fact, the 20-35mm, on a 35mm body seems to have less barrel distortion even at 20mm than the 16-45 has at 16mm on a DSLR.

Sharpness is virtually identical. I've seen some people comment that the 20-35 is sharper in the center, and the 16-45 is sharper at the edges. I haven't seen this to be the case. I do have one shot taken at 16mm where there is a really bright shiny metal object with a shiny edge at the top left corner of the frame, about six feet away. Under that harsh condition I saw some significant CA, but have never been able to quite replicate it since. It may have been more a product of in-chip blooming than lens induced CA.

Overall I'm very happy with the 16-45. ...happy enough to sell my 20-35, in fact, and that used to be my favorite lens. Yes, it is rather bulky and a little heavier than I would like, but its results are outstanding; good enough you'll forget you shot the picture with a zoom.

The difference between f/4 and f/2.8 is exactly one stop. I'm not going to say that's insignificant. Obviously if you're hand-holding a shot at 1/60th and f/2.8, you'll have a little more difficulty getting the same shot with an f/4 lens. But on the other hand, with digital it's always easy to kick the ISO up a peg, and the results aren't going to be as frightening as if you selected a high-ISO film, from what I've seen. I like fast lenses, but an f/4 zoom isn't a bad alternative. I'd hate to imagine the size of an f/2.8 16-45mm zoom. ;)

I've now used my 16-45 for nearly a month. Sometimes it, along with a 28-105 will be my only lenses for the day. You know, one thing that has surprised me. I thought I would miss 20mm on a 35mm body. But the 16-45, which on a DSLR is not as wide as 20mm on a 35mm body, seems to be wide enough that I don't miss my 20-35 on 35mm film.

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