Thanks very much Erik!
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I currently have the Summilux 50/1.4 Pre-ASPH (E46) and Nokton-M ASPH with me. I posted this on the Lux thread but figured this maybe useful for someone coming to look for Nokton info.
This is like Erik did above, but with X-E1 as the body/sensor so they are about 75mm equivalent in 135 format. Lux at F1.4, Nokton at 1.5. my main use will be on film, but I haven't got time to run a test roll on Lux, and I don't have a full-frame digital to test the full image circle. Both images got identical adjustments on LR, but they are both shot at same shutter speed and ISO so technically Lux picture is F0.1 worth brighter.
Nokton was purchased new, and the Lux is from 2003 but seems to be pristine/mint condition with no noticeable defects of any kind. They both had B+W MRC UV filter.
(Left: Summilux 50 Pre-ASPH E46, Right: Nokton-M 50 ASPH)
This shows the full frame of the shot.
Larger image can be found
HERE.
This shows the crop of focused area (obviously manual focused via EVF so not scientifically identical focus point).
This is a crop of mid-ground out-of-focus areas.
Quick observations:
Nokton has slightly wider FOV.
Nokton is sharper at wide open.
They render not too far from each other, but there are differences in characters.
Nokton has overall creamier, ASPH like bokeh avoiding double-line-like effect that you'd find in fast non-ASPH lenses.
For regular size prints coming from film M, I don't think the sharpness difference would make much of meaningful performance differences.
In short, I'd say
Nokton-M ASPH has a modern look with a classic touch. (modern optical design not overly corrected)
E46 Lux Pre-ASPH has a classic look with a modern touch. ('60s optical design with modern coating)
Looking forward to seeing the test roll with Lux in a day or two to compare with the rolls with Nokton.
Edit:
After posting this, I figured it was a bit unfair on the sharpness observation for the Lux as the focus point was off-center. Here is a crop of reframed shots, the focus is right at the center of the frame.
I think the difference in sharpness is super minor, almost just the contrast difference. Of course this still means Nokton-M is sharper across the frame while Lux's sharpness falls off more quickly even on a cropped sensor.