I have just been arguing with myself about the same question. I have now ordered the 16-35/4 and sold the 35/1.4 and the 17-40/4 (the latter was the easy part...quite obvious). I agree, the 35/1 is a special lens but for my type of photography I rarely use 1.4 so I use the 40/2.8 instead. It is small (fits in your pocket), sharp and does not cost a fortune. Good for street photography.