Originally posted by Jonas B: I think I understand: The retractable hood is screwed at place (in the filter threads) and I will be able to remove it thus getting a lens I can handle in the usual way. Do I get it right then?
Yup. Correct!
I need to make a correction to my previous post, Jonas. The OEM lens cap will fit onto the hood only. It will NOT fit over the naked lens nor over a 49mm filter. If you elect to go without the hood, you will need an "old fashioned" 49mm cap, (if you decide to "protect" the front element of your very expensive lens from damage when you "throw" it into your bag...unprotected. Just kidding. You know what you are doing.).
With the lens hood attached, I would not call the 70/2.4 a "pancake" lens. It is almost the same size as the 77/1.8 lens. However, without the lens hood, it is almost a clone (in size) as the 21/3.2 limited. Only way to tell them apart is by reading the labeling on the lens.
Personally, I'm a hood guy. Only time I use a lens without a hood is because I don't have one for that particular lens. I also use the caps. I've never lost a front element cap, but have come close many, many times to losing a rear element cap. Some of them just don't fit very tight. And, these are Pentax caps. Tamron rear caps are the worst. Sigma too. Just can't get them to stay on tight.
You'll like the 70 limited. I have only used my 77/1.8 once since I got the 70, and that was because I needed the speed (indoor volleyball).