> Optically both versions are identical, with superb performance at all > apertures and focal lengths. The equal of current Leica primes and better than the > last generation. Maximum aperture is f/4 but for travel and general-purpose > shooting the convenience of 3 focal lengths in one lens beats out the slower > speed, as long as for travel you have a 50/2, 35/2 or 35/1.4ASPH along if > you shoot in low light without flash a lot. The second version takes a 49mm > filter but use of the (extra, added-cost) shade is a must with bright light > sources outdoors. Version 1 has a flared front piece which acts as a shade, > unless you put a 55mm filter on the front of it, in which case by happy > coincidence (actually Leica's cost cutting measure) the shade from the > 21/2.8ASPH/24/2.8ASPH fits. Version 2 has a confusing rat-maze DOF scale for all 3 focal > lengths, but at least it has a DOF scale, which IMO is obligatory for shooting > with a rangefinder camera where there is no visual preview of DOF in the > finder. Unfortunately Leica also replaced the nice, ribbed focusing ring of v.1 > with one of those awful finger rests on v.2. Those infernal things make > focusing in vertical orientation practically impossible unless your fingers are > double-jointed. So there are good and bad points with both versions. The > 1st version will be much cheaper ($900-1000 for mint, vs $1200-1300 for a mint > 2nd version, and plus you'll spend $75 or so for a shade).