Both 50mm ZM and 55mm FE produce sharp images. In the center and boarder, identical as far as I am concerned.
The 55mm is sharper in the extreme corners. That is the only area the ZM falls short wide open. Stopped down to f4 of f5.6, they two lenses are identical, again, from what I can tell, matching the resolution of the sensor without a doubt.
I like the 50mm ZM color a little better. Seems more neutral, and a little brighter/more contrasty. At least to my eye. The FE is a little warmer for sure. However, I think this can me remedied in post.
For manual focus work, the ZM's mechanical focus is much nicer than the FE's focus by wire. Also easier on the battery no doubt.
55mm 1.8 will obviously produce slightly larger bokeh balls, but otherwise, both render very smooth OOF areas. I can't see a lot of difference myself, and would not let this be a discerning factor in my decision.
So:
55mm is damn sharp across the frame. It's impressive really. AF is also quite accurate, though not as good as using MF from my hour or so of testing. If you prefer AF, there is no contest...obviously!
50mm is an easy pick if you want to manual focus. If shoot wide open and you concentrate on people pictures, you probably won't mind the marginally softer corners. And you can always stop down to achieve the same results for landscape or detail oriented pictures...which you would probably do with either lens anyway! that will give you sharpness across the frame, I think.The catch for the 50mm to me, is it seems to have better contrast and color, in my opinion. highlights are brighter for sure from what I can see, which I really like.
So...now...which to keep? I think I am siding with the 55mm, as I really like having AF. In which case...I have a 50mm Planar and Novoflex adapter to sell!