When I'm talking to my photog buddies, I don't even say 'f'.. So 1 point 2, 2 point 8 etc.
It works until you will have such a converstaion with your friend, having some troubles with the accent in a sentence:
(Y) - you
(F) - friend
(F): Tell me about your last shooting. So how many lenses this you use for this project?
(Y): Just one four. This project was as usual.
(Just one for this project as usual)
(F): Which exactly and how much?
(Y): One four, fifty .
(One for fifty).
(F): I don’t understand, you make me mad! Tell me exactly what lenses, how much, what focus type, and who exactly was shooting?
(Y): One point for me! It was fifty with AF.
(One point. For me it was fifty with AF)
(One point four. Me. It was fifty. With AF)
(One. Point for me. It was fifty with AF)
(F): Ok, it doesn't matter. Tell me what apperture gave such a good result and what the hell is this plane?
(Y): It was F one point four. Great F4, don't you think?
(It was F one. Point for great F4, don't you think?)
and so on...
I think, that the understanding of the statement depends on the sender of the message, as he always should assume the proper level of understanding and context of the message's receiver