audioexcels, you should really get your film professionally scanned, they are so much better than the consumer scanners. not only the much higher resolution, but the better shadow detail and three dimensionality is amazing. like you say, if you're only going to make small prints, you can do that with your digital camera. for cheap black and white work, you're better off with an enlarger than scanning from a consumer scanner. you can do contact prints but eventually you'd want bigger.
i never get any flare with 4x5, no matter what lens i use. i've actually never seen a large format lens flare, like my 35mm zoom lenses do.
Sadly, I have a low budget so lenses like the 110XL are not an option for me, and besides, I need to carry all the equipment in my backpack. Film is also expensive, especially Velvia. I can shoot hundreds of pictures in a one-day trip, so costs add up quickly and here 4x5 saves me a lot of money. To summarize:
1) 4x5 is smaller and cheaper. film, processing, lenses, holders, camera, assesories like flashes, etc.
2) 4x5 can use movements, whereas for 5x7, only a small selection of (very expensive) lenses can. i'm talking mostly about wide angle lenses.
3) If you're getting your film professionally scanned, 4x5 is the sweet spot in terms of resolution and practicality. bglick calculates 8x10 as only having 1.3x the resolution of 4x5. 8x10 is simply too big to bring to trips.
4) 4x5 ground glass is still quite a bit better than the small, choppy LiveView screens of digital cameras. You can match the focal length of your lens with a screen optimized for it, to get brighter and less grainy viewing.
5) 4x5 aspect ratio is perfect for enlarging to 8x10 paper! great for portraits.
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