Canon LTM Canon 7 vs Leica M5

Canon M39 M39 screw mount bodies/lenses
The rangefinder component of any Leica M in good repair is probably superior to the 7. The Leica has the pros of sharp-edged patch, and high contrast.

But the framelines of the 7 are much simpler, in that only 85 and 100 are doubled up on one set.

Incident metering is inherently more accurate than any reflective metering system. So using the 7 with a hand-held incident meter will get accurate exposures.
 
I have both and even wrote a short review with the comparison ( http://fslon.livejournal.com/136853.html?style=mine but it is in Russian) So I'll try to make a brief translation

1. Finishing and look - Canon is better
2. Viewfinder. Leica's patch is better with sharp edges, but Canon's is bigger.
3. Frames. I prefer Canon as each time it has only one frame in the viewfinder (except 85/100) and you can set the frame manually without Leica's stupid system of automatically frame setting
4. Metering. Leica is better
5. Cold shoe. Canon does not have it, but it is possible to attach a hand made shoe (and generally one does not need it). As for Leica the position of the shoe is not good - it is shifted from lens axis so horizontal parallax could be expected
Also when you are looking in the external viewfinder the wind lever aims you eye (it's not a joke)
6. Mount. With Leica you can use LTM and M lenses, with Canon - only LTM.
7. Shutter. Canon has T and B, and 1 to 1/1000, Leica has only B and 1/2 - 1/1000

Conlcusion. Leica is half a step better technically, but the feelings of the cameras in the hands are slight different, so one can prefer Leica, one can prefer Canon.
 
I am comparing both cameras as I write, looking through the viewfinders and otherwise fondling them. Honestly, I prefer the Canon 7. Many of use here who shoot with the older Leicas which don't have built-in meters. The Canon 7 (with a working meter) has a definite advantage over these early Leicas (though I wouldn't want to trade).

For the money a Canon 7 is a great camera, and there are more L mount lenses out there than you'll probably ever have an opportunity to try out.
 
Buy all of it. Nothing wrong with 2 bodies and 3 lenses. I'm using a Canon VI-T & M5 and too many lenses. I get confused. Grinning. Seriously, the LTM lenses will work fine on the M5.
 
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