Originally posted by Fat Albert Sorry if this topic has been beaten to death,
It has.......
First, hoods and filters do completely different things, although they do overlap in some areas.
Second, always use a hood. Always. Especially with older lenses like your M where the coatings are not as good at resisting flare. The hood will make a noticeable difference.
Third, where we usually see the hood vs filter debate is in people trying to prove one or the other is better at protecting the lens. I won't re-open that debate, use what you want.
Fourth, A CPL performs a specific job, it reduces reflections and glare from non-metallic objects. It can also darken skies and boost contrast/color in some cases. But unless you are shooting water or trying to boost a light blue sky a CPL has little value and costs you at least a stop of light. Use it when you need it, don't when you don't.
Fifth, get a hood. Get a cheap 49mm rubber fold out for like $5 if you don't want to spend much. It will be the best $5 you ever spent. If you need a CPL then get a CPL but it does not do the same thing as a hood.
Sixth, get a hood.