DA* - weather sealed, arguably better IQ
FA - (much)
cheaper, faster AF, more compact
I would go for the FA unless you need the weather sealing.
We will be posting a review of the DA* 55 early next year or at the end of this year. In the mean time, you can read our users' reviews:
Pentax-DA* 55mm F1.4 SDM Reviews - DA Prime Lenses - Pentax Lens Reviews & Lens Database Pentax-FA 50mm F1.4 Reviews - FA Prime Lenses - Pentax Lens Reviews & Lens Database Adam
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