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I just bought a 1,1xx,xxx version Olympus 50mm f/1.4 lens. The aperture blades are very slow to retract. However, this doesn't seem to be a problem for my use with an EOS adapter. It stops down and open quickly when it's mounted and I turn the aperture ring. No oil is visible on the blades.
Test photos seem fine and match what I've read about this lens. It's soft at f/1.4, O.K. at f/2, excellent from f/2.8 to f/11, and O.K. at f/16. There's fogging when the sun hits the front element and flare at smaller apertures.
Here's the part I'm really wondering about. At f/2 and f/2.8, the aperture blades don't form sharp corners. There's a jagged corner because the tip of the blade is right in the corner. At f/4 and smaller apertures, the blades form sharp corners.
So, are jagged corners at f/2 and f/2.8 the norm for this lens? Or, are the aperture blades on this lens all messed up?