I'm fortunate to have both the DA*16-50 and the DA17-70 zooms. The DA17-70 lives on my camera most of the time, as I find the extra reach very useful and with the excellent high ISO performance of my K-x and K-5 I don't miss the extra stop most of the time. My copy of the 17-70 has very good IQ, although if I pixel-peep the 16-50 has the edge.
That said, I still like the DA*16-50 for portrait work when the limited DOF at f2.8 is wanted, and for outdoor use in bad weather. Horses for courses...
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Jim King - Retired Colormonger - Suburban Detroit, Michigan, USA; GMT -5h (EST)
Pentaxian for over 45 years.