I had the Takumar-K 135/2.5 and SMC-Pentax FA135/2.8 at the same time
and did a bunch of comparison testing with them. Wide open, there was
no competition at all: the Tak-K was junk compared to the FA135.
Stopped down to f/8 or smaller, the difference was mostly gone other
than the Tak-K's propensity to flare. For a Pentax DSLR, you need a
*deep* lens hood to kill the flare. The only thing the Tak-K did
better than the FA135 was manual focus (the FA135's internal focusing
mechanism always felt loose and imprecise). I paid $27 for the Tak-K.
For that money, it performs well, but that's not a lot of money.

Much later, with both of those lenses long gone, I acquired a Pentax
SMC-Takumar 135mm f/3.5 lens in M42 screw mount. This is a better
performer than either of the above, wide open, and is what I use today
on a mount adapter with the E-1 or G1 bodies. I even use it on a 1.4x
teleconverter with superb results (making a 190mm f/4.9 lens, a nice
very-long lens for FourThirds format, 35mm Equivalent FoV around 380mm
focal length). Less chromatic aberration, better corner sharpness,
etc, than either of the above two lenses. A friend of mine gave it to
me, rescued from the garbage bin at the local Good Will.

Far as I'm aware, the SMC Takumar 135/3.5 and the Pentax-M SMC 135/3.5
are both super performers although they do not share lens designs at
all. That's what I'd buy ... if I couldn't get a Pentax-A* 135/1.8,
that is. ;-)
-- 
Godfrey
  godfreydigiorgi.posterous.com

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