The FA50/1.4 was the first lens I got for my K20D, and of 155+ other lenses I've added since, including 25 Fifty's, it's still my most-used prime (and my only AF prime). It was mentioned above that the FA50/1.4 has 8 iris blades for smoother bokeh. Of my Fifty's, not counting slower and/or non-Pentax-mount lenses, only that FA50/1.4 and the Helios-44 58/2 have 8 iris blades.
I got my FA50/1.4 for US$200 and my Helios-44 for US$20 about 2.5 years ago. Prices for both have risen a bit since, and a PK-mount Helios demands a premium price. The FA50/1.4 remains my go-to lens for low-light work, although my 'fastest' Fifty is an M42-mount Sears (Tomioka) 55/1.4 (6 iris blades) -- I got my second for TWO BUCKS a few weeks ago, and sold it for US$50. Wide open, it's like a knife for slicing a subject away from their surroundings.
One area none of the mentioned lenses excels at is close focusing -- they all have a minimum focus of 45cm / 18 inches or more. The M42 Meyer Oreston (aka Pentacon Electric) 50/1.8 will focus to 30cm / 12 inches, and of course the Macro-Takumar 50/4 (1:1) will focus down to almost 5cm / 2 inches. That MacTak is also the sharpest kid on the block, if not the fastest, and it has 8 iris blades. The MacTak and the Meyer/Pentacon give great rendering.
But of PK-mount Fifty's, the FA50/1.4 is the best IMHO.
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