This is a must have lens for Canon DSLR owners.
It must be expensive, right? Does it have IS and USM? Is it an “L” lens?
The answer to all three of these question is a resounding “NO”!
The Canon EF 50mm f/1.8 II can be had at a pittance of about $70 or so, street. So now, the “why”?
First off, as you can see, it’s cheap. Not only is it cheap by it’s great glass for the pennies you pay. This is probably the best “bang for the buck” lens that Canon offers and the first lens you should buy for your new DSLR.
Furthermore, this lens is a great portrait lens for APS-C sensor cameras like the Digital Rebel XT, 20D, and 30D. It is the equivalent to what an 80mm lens would be on a full-frame camera.
I won’t rehash what others more knowledgeable than me have said about this lens. Below are some links for your reading pleasure which reinforce the points I’ve made.
Individual User Reviews from FredMiranda.com
The Digital Picture’s Review
Individual User Reviews at PhotographyReview.com