Info dump time! I want to talk about the ISCO Ultra Star Plus series, the most modern film projector lenses you're likely to be able to find and afford. They're all bright red, easy to identify.
The series was introduced around 1999 as a minor improvement on the Ultra Star series from a decade before. The optical formulas remained very similar, with 7 elements for 45mm and greater lenses, and a much bulkier 9-element design for the wider lenses. No cemented or aspherical elements were used.
This is specifically the 60mm lens formula, but the same basic design applied from 45mm to
100mm (edit: 95mm was the
longest available focal length):
Notice how big the rear element is, even bigger than the front! This was the main change from the original "Ultra Star" to "Ultra Star Plus." According to the patents, aperture was increased from f/2.4 to f/1.9, and vignetting at the extreme corners was reduced by 61 to 73%. What they really did was increase the image circle quite a bit - now even the shorter focal lengths can be used on full-frame without cropping.
This is a double-exposure composite of the same lens, front and back, to show how much bigger the glass is in the back vs. the front. The ring on the front can be unscrewed to bring the aperture up to f/1.9, but even then, the front opening is smaller than the back.
This is the same lens compared to the Ultra Cinelux 65mm f/2. The ISCO designs after their split with Schneider were much bulkier than comparable Schneider ones.
Now, on to the pictures it takes. I used it quite a lot late last year, and I have one word for it: smooth. It's hands-down the smoothest lens I've ever used. Sometimes it doesn't even look real, the background is so smooth. Whether this is a good thing or not depends on your personal tastes.
Colors are neutral and flexible. Sharpness is very good, but contrast and flare resistance are poor for such a modern lens. Definitely not as much contrast as the Ultra Cinelux I've written much about.
I happen to like red anodized finishes, so the appearance of the lens itself is a plus in my book.
While it's bigger than the Cinelux, it's not too big to fit in a saddle bag for bike rides.
Overall, I have to say I don't like it as much as the older Cinelux. The rendering is so smooth that you might even call it boring. I used to think there could be no such thing as too much smoothness, but now I see that maybe there is a line somewhere that this lens has crossed. I like sweet, but cotton candy is a bit much. In today's world, a phone can passably simulate the background blur of a larger sensor, and the kind of blur this lens gives you is very easy to simulate. It lacks that hectic-but-pleasing character many classic lenses have which would be very difficult to fake.
I don't mind having it in my collection, though. Super-smooth is fun once in a while.