Evaluation: 
Conclusion: Five decades and they are still at it
Review: Pentax have always produced fine glass at a manageable price, and this lens is no exception. I own Pentax primes going back to the 1960s and have been spoiled by the wonderful qualities of those lenses; to the point where I--like other reviewers--did not consider zooms. However, when I purchased a K20D I felt it deserved better than the 18-55 kit lens (version I not II) I had floating around for a general-purpose 'travel' lens. Reading the reviews on the 16-50 I was concerned with the quality control issues and opted to pass. So that left the 16-45 seeing as the 17-70 was still not available at the time.
And I am glad I made that choice. Initially I was dismayed at my pictures as they did not seem as sharp as I would've expected; however after using the (very nice) K20D focus adjustment I realized my particular 16-45 and my particular K20D did not quite agree and needed a little assistance. After performing a fairly casual focus adjustment (picking real world objects and testing it out) the 16-45 not only met expectations but greatly exceeded them. I own some VERY sharp lenses including a Super Takumar 28/3.5 M42 mount and this lens is every bit as good as any of them. Contrast, color, sharpness are all up to par with the massive resolution the K20D sensor is capable of. I would not even consider the 16-50 since it's just a stop faster and much more expensive than this little guy (unless you need the weather sealing); the 16-45 is just that good.
If you don't have it, and don't need the weather sealing, buy it now. If you want to print 5 feet wide, buy it now. If you want the best bang for the buck in any zoom lens, buy it now.
Just....buy it. (Unless you own one of those non K-mount bodies, that is.)
Evaluation:
Conclusion: The Pentax 16-45mm f4 is a Keeper.
Review: Ditto Dana G's review. I migrated from a pretty extensive Nikon film system, and have used all kinds of other brands of film camera equipment, either on assignment or as a community college photo instructor during the 70's and 80's. I tried a variety of zooms, including varifocals with ELD glass. They were visibly softer than their equivalent single-focal-length counterparts. I noticed this after I had spent a long time using one particular varifocal. One day I switched back to a prime and when the prints came in, WOW! You could even tell with a casual glance at a 3X5 proof, that there was a huge difference. And the wide angle range in those 1970'5 and 80's zooms alway seemed extra soft and distorted. So I just gave up on zooms until I experienced digital.
I'm not one of those people who photographs charts. But I've a LOT of experience looking at real world images. In fact, as long as the lens seems to be working I don't really pay attention to it. However, in this case, I was shooting some photos of rocks along the Maine coast, from a tripod, and I decided to try to use a few Pentax prime lenses--a 40mm SMCP DA 2.8 and the Pentax FA 50mm 1.4--just to see if zooms had improved. All shots were in the 35-60 mm range, around f5.6-f8. When I uploaded these images into Photoshop, I was flabbergasted. The 16-45 mm gave nicer color and was at least as sharp as the two primes. Since then, I've had occasion to compare it against my Pentax DA 14mm 2.8, and I haven't noticed any real-world difference at the wide range either. But it's the fact that, if there were a difference, I would have to look really, really hard to see it that impresses me!
I find that I use the !6-45 more than any other lens that I own. I purchased it as an "upgrade" from the kit lens. And, as an aside, the Pentax K10D seems as if it were custom designed for migration from film or prosumer digital. The value for the money in this system is unmatched by any other maker. Amazon's latest body price=$530 after rebate. Not bad for a camera with shake control, self cleaning ccd's and the build-quality of a $1,500 Nikon.
Evaluation:
Conclusion: Great image quality for a reasonable price, with few "issues"
Review: I have had this lens for almost a year, and taken hundreds of photographs with it. It is usually on my K10D with a circular polarizer. There are many "pros" and few "cons":
Pros:
1) It is considerably lighter and smaller than one would expect for a constant aperture f4 lens, as it is designed for digital SLRs. You can leave it on the camera as your walk-around "normal" or "street" lens.
2) Image quality is superb, from the center out to the corners, even at f4. I have the 18-55 kit lens, and the difference in image quality at f5.6 is obvious, but less striking at apertures of f8 or smaller.
3) Makes a great travel lens due to its widest 16mm focal length, especially combined with a polarizer for landscapes, cityscapes etc. Even though the Pentax K10D has shake reduction built-in, one should preferably use a tripod with a bubble level, if for no reason but to make sure the horizon is level (unless you like fixing them in photoshop!)
4) It is a lot cheaper than the 16-50/f2.8 (which may be a bit better)
Cons:
1) Don't use the built-in pop-up flash with this lens in the wide-angle position - you will see a black semi-circle in the bottom half of the image. You need to use a hot-shoe or off-camera flash.
2) Although it is reasonably light and a better performer, it is a bit heavier than the cheaper 18-55 kit lens (which is only 2 mm longer at the short end and 10 mm longer at the long end)
3) If you can afford it, the 16-50/f2.8 may be a slightly better performer which is also weather-sealed (the K10D is weather sealed, the 16-45 is not - don't take it out into the rain) and has a wider max aperture (better for low light shooting, isolating foreground subjects)
4) 45 mm is sometimes a bit too short, and perhaps a 17-70 would be better if you find yourself often taking portraits
5) If you need just one lens for travel, an 18-250 lens is sometimes preferable (the longer zoom helps you compress foreground and distant objects, and avoids "zooming with your feet"), although it would not have the wide constant aperture and is more limited in the wide-angle department.
Evaluation:
Conclusion: Clear and flexiable
Review: I bought this lens instead of the 18-55 mm kit lens and I am very satified with that decision. The images are clear and the colors true. For normal picture you really don't see any distortion. I don't have a good prime lens to compare it to yet, but for general use and walking around this is a very good choice in a mid- to high-end lens. This glass will most likely become my general use lens.
Evaluation: 
Conclusion: Pentax Scores Again
Review: This is a great lense for all around shooting whether snapshots, panorama's, or portrait. The fixed aperture boosts the consistency of camera performance over the range of it technical ability. The 16mm end of the range is great for shooting in cramped space when you need wide angle of cover while the 45mm end gives you a modest zoom when you need to bring your subjects a little closer or exclude unwanted areas from your composition. A solid performer that produces clean clear photos over its entire focal length. A great quality lense to replace the 18-55mm stock kit lense making it a better choice for a wider range of applications. A natural accessory for your K100, 100d or K10d SLR or any other Pentax/Samsung SLR's that can accomodate the Pentax DA lens mount.
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