I'm in the "How many 50's is too many 50's" evolution of LBA right now. However many too many is it is very many more than I have.
The ubiquitous on eBay Takumar 135/3.5 screw-in metal hood works well for the M50/1.7 on APSc format, but would likely vignette on 135. I keep one around for a really bright day with my 50's. Otherwise I just use the traditional plastic clip-on and no filters.
The 1.7/1.8 Pentax 50's of all the m42 and K-mount have an optical formula optimized for a flat field (sharp corner to corner) with a neutral cast. The 1.4's are optimized for background blur (I hate that other B word) which helps to promote 3-dimensionality in your subject, but at wide apertures the 50's can be soft in the corners. Therefore you should definitely keep both lenses!!
Mine are almost identically sharp above 5.6. The optical formula of the 1.4's is supposed to have been unchanged for years until the A50/1.4, when it was reportedly tweaked for sharpness. The FA has the same optical formula as the A. Aside from that the changes over time were only to the coating formula. Your color cast changes between the M50/1.7 and FA50/1.4 might be the result of these coatings changes, making the FA a bit cooler - but giving beautiful sky hues (with hoods
).
If you've never visited Boz's K-Mount page, compare your lenses at
this link.