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Still I think that f1.2 lens or faster for APS-C and if it should be "only" lens, it should be either long (58mm) or short (35mm). 42mm is interesting, but most people dont have sebbohs skill..
I've owned the 35/1.2II, great lens but I don't need to overlap focal lengths and already have Fuji's 35mm f1.4 which works great on the X-Pro1.
I enjoy shooting portraits loosely and this is the reason why I'm excited about the 42mm, around a 60mm equivalent.
I'll be getting either the Canon FD 55/1.2 or Rokkor 58/1.2 soon enough, but I feel those will be easier to find compared to the 42/1.2 and I happened to find a clean copy of the Olympus located in Canada.
I guess I'm making the slightly riskier option, but I'm too intrigued by the 42.1.2.
I might not be at sebbohs talent, but he's a great inspiration.