And most of the compacts do not have small apertures (e.g. F2.0 - F8.0 is the range for the G1/2 series) like F16 or F22 and fast shutter speeds, so ISO 50 is very useful.Some compacts have max shutter speeds of about 1/1000 or 1/2000 at best. DSLRs have max shutter speeds of at least 1/2000 and for the 30D series, 1/4000.
Dun feel there's a need for ISO 50 unless you're shooting at the sun.
Without having ISO 50, the only practical ways are either doing what you did, or getting a set of NDs (which would just be so troublesome during events).actually, ISO 50 function is useful when you want razor thin DOF with really fast apertures; like f/1.4 or f/1.2 in bright day light.
personally, with 1.4, i could hit the upper limit of my camera (1/8000) at ISO 100, f/1.4.. =)