Film
1. Initial investment for digital is much much higher than film, period.
-----yup, worth every penny....tough to put a price tag on the quick learning curve.
2. Digital cameras suck up juice... lots of battery... and they do it really fast in the cold.
-----I would get 300 shots on a full charge from my D60 battery and my 1D battery has yet to die, even through almost 1.5gb of shots out in the cold
3. Top of the line digital camera that come close to matching film are as expensive for the DSLR body alone as an entire professional 35mm SLR and lens setup and 35mm film scanner.
-----how much does a drum scanner really cost? film costs money, processing costs money (it really does add up really fast)...and i hate scanning!
4. B&W: Digital prints cannot touch a properly done 35mm FB print.
---duh!

That's why I still have my 10s....although i never take it out of manual mode so i might as well be shooting with my old AE-1
5. Wide angle is much easier and cheaper with film.
----yah, but you should have a fisheye anyways!
6. Film gear holds its value over the years. Digital gear is obsolete very quickly.
----money saved in film/processing can make it even out. Then there's the time (and cost if you don't have a scanner) to get good scans done.
Digital
1. If you shoot a lot, digital will definately pay for itself if you do not print out your work often.
--------well, how often do you print your slides? That gets just as expensive.
2. You do get extra practice with digital because shots are free.
-----you can experiment a lot more too
3. It's hard to judge exposure on a 1.8" LCD, but it's better than nothing.
----that's why you learn to read a histogram, you should know if you took a sharp shot or not....
4. High end digital is the clear choice for photojournalists and others with mostly digital workflows who shoot a zillion pictures.
5. Low end digital is a good choice for computer savvy point and shooter tourists who shoot a ton, don't care about quality too much, and never print more than 3.5x5.
6. Those film arguments proably won't hold up so well 5-10 years from now.
----maybe less, maybe longer, who knows.....i hope less though!
I'm waiting for a 16MP Foveon 3X fullframe 35mm sensor camera fore under $2000 before I ditch my 35mm film gear and even then I'll hold onto my 4x5 gear for serious B&W work.
I swear by my first generation 50mm.
The 50mm f/1.8 Mk I with metal mount, better build, distance scale, dof scale, nonrotating filter mount, and a larger focus ring that doesnt move during manual focusing. If you see a Mk I, buy it. It is a rare gem. You see them on ebay now and then for $90-$110.
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