Originally posted by dgaies Depends on what aspect of "optically" you mean. I found the 50/1.7 to be a bit sharper between f/1.7 and f/2.8. However, many people find the rendering/bokeh of the 50/1.4 to be superior to that of the 50/1.7. So I think it's fair to say they each have their strengths and that neither one is optically superior to the other one.
I've read the 1.4 and 1.7 were intentionally designed for just those effects. The i.7 was used for flat work (shooting from a copy stand for printing and copying) and the 1.4 for "artistic" work. The 1.7 is said to have a flatter field and more uniform sharpness across the entire field than the i.4. The 1.4 has (of course) a different bokeh quality, shallower depth of field W/O (of course) and better highlights.
Both are great lenses for their strengths.
That's me regurgitating - not my personal experience.