A saner approach to expanding your lens collection is to consider what each of your options can do for you and then choosing the type of lens that will really boost your creative opportunities. Here's a general guide to the sort of capabilities you can gain by adding a lens to your repertoire.
■ Wider perspective. Your 18-55mm f/3.5-5.6 or 17-85mm f/4-5.6 lens has served you well for moderate wide-angle shots. Now you find your back is up against a wall and you can't take a step backwards to take in more subject matter. Perhaps you're standing on the rim of the Grand Canyon, and you want to take in as much of the breathtaking view as you can. You might find yourself just behind the baseline at a high school basketball game and want an interesting shot with a little perspective distortion tossed in the mix. There's a lens out there that will provide you with what you need, such as the EF-S 10-22mm f/3.5-4.5 USM Zoom. If you want to stay in the sub-$600 price category, you'll need something like the Sigma Super Wide-Angle 10-20mm f/4-5.6 EX DC HSM Autofocus lens. The two lenses provide the equivalent of a 16mm to 32/35mm wide-angle view. For a distorted view, there is the Canon Fisheye EF 15mm f/2.8 Autofocus, with a similar lens available from Sigma, which offers an extra-wide circular fisheye, and the Sigma Fisheye 8mm f/3.5 EX DG Circular Fisheye. Your extra-wide choices may not be abundant, but they are there. Figure 6.4 shows the perspective you get from an ultra-wide-angle lens.
■ Bring objects closer. A long lens brings distant subjects closer to you, offers better control over depth-of-field, and avoids the perspective distortion that wide-angle lenses provide. They compress the apparent distance between objects in your frame. In the telephoto realm, Canon is second to none, with a dozen or more offerings in the sub-$600 range, including the Canon EF 100-300mm f/4.5-5.6 USM Autofocus and Canon EF 70-300mm f/4-5.6 IS USM Autofocus Telephoto Zoom lenses, and a broad array of zooms and fixed-focal length optics if you're willing to spend up to $1,000 or a bit more. Don't forget that the EOS 40D's crop factor narrows the field of view of all these lenses, so your 70-300mm lens looks more like a 112mm-480mm zoom through the viewfinder. Figures 6.5 and 6.6 were taken from the same position as Figure 6.4, but with an 85mm and 500mm lens, respectively.
■ Bring your camera closer. Macro lenses allow you to focus to within an inch or two of your subject. Canon's best close-up lenses are all fixed focal length optics in the 50mm to 180mm range (including the well-regarded Canon EF-S 60mm f/2.8 Compact and Canon EF 100mm f/2.8 USM Macro Autofocus lenses). But you'll find macro zooms available from Sigma and others. They don't tend to focus quite as close, but they provide a bit of flexibility when you want to vary your subject distance (say, to avoid spooking a skittish creature).
■ Look sharp. Many lenses, particularly Canon's luxury "L" line, are prized for their sharpness and overall image quality. While your run-of-the-mill lens is likely to be plenty sharp for most applications, the very best optics are even better over their entire field of view (which means no fuzzy corners), are sharper at a wider range of focal lengths (in the case of zooms), and have better correction for various types of distortion. That's why the Canon EF 28105mm f/3.5-4.5 II USM Zoom lens costs a couple hundred dollars, while the "similar" (in zoom range only) Canon EF 24-105mm f/4L IS USM Zoom is priced $1,000 higher.
■ More speed. Your Canon EF 100-300mm f/4.5-5.6 Telephoto Zoom lens might have the perfect focal length and sharpness for sports photography, but the maximum aperture won't cut it for night baseball or football games, or, even, any sports shooting in daylight if the weather is cloudy or you need to use some ungodly fast shutter speed, such as 1/4,000th second. You might be happier with the Canon EF 100mm f/2 Medium Telephoto for close-range stuff, or even the pricier Canon EF 135mm f/2L. If money is no object, you can spring for Canon's 400mm f/2.8 and 600mm f/4 L-series lenses (both with image stabilization and priced in the $6,500-and-up stratosphere). Or, maybe you just need the speed and can benefit from an f/1.8 or f/1.4 lens in the 20mm-85mm range. They're all available in Canon mounts (there's even an 85mm f/1.2 and 50mm f/1.2 for the real speed demons). With any of these lenses you can continue photographing under the dimmest of lighting conditions without the need for a tripod or flash.
■ Special features. Accessory lenses give you special features, such as tilt/shift capabilities to correct for perspective distortion in architectural shots. Canon offers three of these TS-E lenses in 24mm, 45mm, and 90mm focal lengths, at a little over $1,000 each. You'll also find macro lenses, including the MP-E 65mm f/2.8 1-5x macro photo lens, which shoots only in the 1X to 5X life-size range. If you want diffused images, check out the EF 135mm f/2.8 with two soft-focus settings. The fisheye lenses mentioned earlier, and all IS (image-stabilized) lenses also count as special-feature optics.
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Although we usually tend to think of the digital camera as the best thing since sliced bread, there are both pros and cons with its use. Nothing is available on the market that does not have both a good and a bad side, but the key is to weigh the good against the bad in order to come up with the best of both worlds.