There's a lot to like about the lens, but I just didn't like the under-saturated / faded blue it produces. It is (on paper) a perfect little rascal, but for me a lens needs to be more than perfect ...
Definition of saturation is different for everyone. If you feel the need for more, you can easily bump vibrance or saturation in post. You can't go wrong with this lens.
nice and crisp! I wonder how the sharpness compares with lenses like the 50mm 1.8 or 1.4
50 1.8 is an old technology from the 90's. It's cheaply made. Resolution doesn't get good until f/4 and bokeh is poor. As for the 50 1.4 resolution doesn't get good until f4, even at f2.8 the 40mm beats it. I don't care how much light the 1.4 gets in, resolution is unacceptable at this aperture. When for less then half the price you see the 40mm has solid charts across the frame, it's a no brainier. People can argue about this all they want, at the end of the day results are what matters.
Focus is kind of slow and it hunts a lot on a 550d. On a 5d it feels unbalanced to me. I'm used to having something more substantial attached. Very cute subject.
40mm Focus is pretty fast on the 5D Mark III, maybe not as fast as USM but it's fast to a point where i was able to use it in Servo mode and still lock focus on fast moving subject. Focus speed is nothing to worry about since it's a walk around lens. Balance is no issue at all, with the 40mm on, the camera feels light and fun to use. You will always have those 2% of people who would find something to complain about, but in reality this is an exceptional lens.

HAHA, that was funny. Don't think she's all quite and listening to me, she would run everytime i tried to take a pic. I was lucky i got those shots. She was only still when she was playing with the sand.