Here's a different opinion...
The 'Standard' 50mm lens you find yesterday, today, and tomorrow, is, in my opinion, one of the HIGHEST value for money lenses any photographer could find.
Why?
The Cons:
1) It is not a zoom.
2) It does not offer the versatility of a zoom.
3) It forces a photographer to carry one, or more additional lenses (if a photographer uses more primes than zooms).
Now, these may not necessarily be 'cons'...
NOW...and I'm sure some of you have been waiting to know...
A prime standard 50mm is one of the best pieces of fastest lenses any photographer could ever buy! For so little money, what you get is an exquisitely designed, and relatively cheap to produce lens of outstanding optical quality that would surpass ANY zoom lens at any time (optically speaking).
For those who want to know a little more about the standard 50mm, did you know that it was birthed as a lens designed by Zeiss in the late 1800's, christened the:
'PLANAR'
1896
Paul Rudolph
Zeiss Designed by Dr. Paul Rudolph in 1896 based on the double Gauss design (in 1817, C F Gauss described a telescope objective consisting of a pair of meniscus shaped elements, one positive, and one negative.)
The design was 4 groups of 6 elements, and a flat field design. Symmetrical optical configuration producing low spherical aberration and astigmatism. The normal wide airspace separating the positive and negative elements in the double gauss design made a large amount of spherical aberration.
Rudolph thickened the negative elements and reduced the airspace as much as possible, which corrected the spherical aberration and the sagittal/ tangential astigmatic aberration.
Rudolph also inserted a "buried surface" into the thick negative elements of a cemented interface separating two type of glass having the same refractive index, but different dispersive powers.
Not widely used until coating processes were available, due to light loss from the large number of transmission surfaces causing very low contrast. Due to it's complexity and high number of transmission surfaces, it really did not come into it's own until coating was developed.
The planar was used as a base for lens derivatives, though in asymmetric form.
Almost all the high-aperture lenses supplied on Japanese cameras are modification on the Planar.
Some well know variants of six element Double Gauss designs are:
Agfa: Soligon
Angenieux: S-type
Astro: Kino, Tachar
Bausch & Lomb: Aminar, baltar, Raytar
Boyer: Saphir
Dallmeyer: Super Six
Enna: Annaston
Isco: Westagon
Kinoptik: Apochromat, Fulgior
Kodak: Ektar, Aero Ektar
Leitz: Elcan, f/1.2Noktilux, Sumarrit, Summar, Summitar, Summicron, Dygon
Meyer: Domiron
Rodenstock: Heligon
Ross: Xtralux
Schneider: f/2 Xenon, Xenogon
Steinheil: Quinon
Taylor-Hobson: Amotal, Ivotal, Kinic, Opic Panchrotal, Speed Panchro
Wollensak: Raptar
Wray: Copying Lens
Zeiss: Biotar, Flexon
However, bear in mind that in the past, so many much greater masters in all areas of photography ranging from portrait artists, street photographers and even super high-stress, time is of the essence if one were to get the shot ... and still survive - war photographers
ALL of them used fixed focal length primes.
My all time favourites are Capa and Bresson.
While Capa (war photographer and founder of Magnum), out of necessity, had several bodies fitted with different lenses, Bresson so masterly
captured the essence of life itself, in what he defined as 'the decisive moment' using nothing more than a 50mm standard lens.
YES, using fixed focal primes involves more work, simply because the field of view cannot be changed in the lens itself. A photographer is forced to move in, or out, and to go around a subject.
This is, in itself, a discipline; something I feel is sorely lacking in too many modern photographers overly pampered by too much technology.
Am I a sadist? No.
While I used to shoot 35mm and 120 using an avarage ratio of 80-90 primes and 10-20% zooms, it was the works taken with my primes that were the best - EVER!
I have to confess, I am now spoilt and shoot digital using 90% zooms and 10% primes. Such is the order of life.
However, I do use a modest Standard 50mm f1.8 as appropriate, and it always outperforms my zoom lenses costing many thousand % more.
Further readings:
http://www.panix.com/~zone/photo/czlens.htm
http://www.company7.com/zeiss/history.html
http://www.imx.nl/photosite/leica/technics/optics01/lensdesign01.html
http://medfmt.8k.com/mf/history.html
CHEERS!