Originally posted by Rondec As to fast lens versus external flash question, I don't know the answer. External flash definitely gives you more bang for your buck. It also takes a lot of practice to use and get consistent results. I have seen an awful lot of photographers blast away with an external flash and come away with photos like they had just visited a mime convention.
A fast lens also takes a lot of practice -- mainly from a focus stand point. Remember that as you open up your lens, your depth of field becomes more narrow. A 50 f1.4 lens will have a depth of field of only a couple of inches wide open at the distances your shooting at. So, there is no easy answer, except practice and enjoy.
You received already some valuable feedback. I can possibly add on the advantage of fast lens (eg 50 mm f1.4)
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I have a K-7 and a 58mm f1.4 Nokton. I chose originally the Nokton for outdoor photography in low light. I found that the fast lens allows me to take some very decent pictures outdoor and indoor with low light in absence of flash. In fact, everytime I want to shoot at home in the evening, I use the Nokton (without flash). Overall I am very impressed by the ability to shoot indoor without flash: very nice during a school event.
This particular lens (Nokton 58mm f1.4) is a manual focus with a relatively short depth of field and the aperture ring has an A (auto) position: all in all, a good practice and training lens for newbies ... like myself
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PS: I took last week the K7 and the Nokton lens in the bush (ie wilderness) for 4 days and night under the rain and wind, and in the mud. The lens is really robust and impressive. There were other colleagues using some Nikkon and Canon SLRs with kit lenses. They were very surprised to see me shooting in the rain or in the early night without flash: their Canikon & kit lenses were not designed for that.