I've been using 35mm Ilford XP-1 and XP-2 for years for editorial work (photos which will be published in magazines) because it's convenient as heck and its final destination is going to be fairly low-res anyway, but I don't use it in 4x5 for the following reasons:
1.) You can't control the contrast (this is a biggie). 2.) It's more expensive than Tri-X (not much) but... 3.) Processing (and proofing, if necessary) is MUCH more expensive than souping your own film. 4.) Local contrast seems low, and the overall look is a little mushy. Fine for portraits, especially women and children, unless you're into the Karsh-like "stark reality" thing (which I like for some subjects). I wouldn't use it for landscapes/architecture/etc. 5.) The film (especially when wet) seems physically softer than silver-based film. I've repeatedly had XP-2 scratched by various processing labs, much more so than conventional films.
For low contrast, fixed-illumination-level shots (i.e. studio portraits) where the extra $2 per sheet processing cost doesn't matter much compared to what you're getting for sitting fees & print sales, T400CN or XP-2 may be just the ticket, especially if you don't have a b&w darkroom set up. Otherwise I'd recommend Tri-X in HC-110 or something similar.
Best wishes, Mark Parsons
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