Is Canon's First Pancake Lens Ready for Its Close-up?S

According to Canon Rumors Friday could bring the announcement of Canon's first ever pancake lens, a 40mm f/2.8 piece of glass. And considering the flattened beauties are all the rage right now, we hope that's the case.

Pancake lenses are known for being small, lightweight, and just plain pretty, although they generally cannot match the maximum aperture of beefier primes. But this little guy should be pretty cheap (hopefully under $300) so it might be a nice way of trimming the fat from your setup. [Canon Rumors / Canon Price Watch]