Is it just me? I know it is but....
I just looked at the picture of the new pancake lens on todays new C@non SLR item on photorumors.
I spent five full minutes of my life deciding that not only was it really ugly, but I ended up not finding a good answer to the question "Why put a pancake lens on an dSLR?"
So it's a bit flatter than a regular standard lens, and that might lower the "footprint" of the camera a small amount compared to a 50mm lens, but the mirror noise & shutter release sounds are going to be the same, so its not really all that much more discrete (is it?)...
I actually really like that idea. Nikon used to have a 50mm pancake lens that I thought was pretty awesome.
The canon pancake apparently is optimized for video use.
Especially with smaller bodies, the lens practically disappears. Ever use a 35mm 1.8 with a D40 sized camera? It's awesome. It'd be even cooler if it was a smaller package.
At tcole- enjoy the 17-55! I personally love the 35mm 1.8, but that's just my opinion.