a perfectly servicable ~ 1:2 macro with very nice color and crispness can be made very inexpensively.

the lens will have serious limitations , but it will also have wonderful capabilities

firstly with the lens i chose for this conversion a mini slr lens , the pentax auto 110 50 2.8 has no diaphram
the only way to control exposure is with shutter speed ,creartive use of iso , behind the lens apeture disks to stop down to a smaller f stop , or neutral density filters . i find that a a couple of   black plastic disk with a hole drilled of asbout 3\ 32 " and about 9 opr 10 \32  suffices to create a  intermediate f stops to increase depth of field or reduce exposure, used when necessary is fine but in truth i have rarely used them , i just consider the lens is "what it is "

because i have a voightlander m4\3 to m mount adapter a decided to buy a leica extension tube sizes approx
5\8 " by abot 1 3\4" marked ernest leitz wetzler germany on one side , and 14020k  1 4.5/200  1:4/200 on the other its threaded for 39 leica screw mount and fits the 39 screw to m adapter i use for my 50 1.5 nokton  

 i got it on    e bay for about 20 bucks , any spacer would have worked with a few design alterations

i simply glued the lens [ this is permanant!] to the leica extension tube and then mounted the whole thing on my voightlander m mount adapter

my distances are not critical , this is just "extension tubing" a lens out to allow extreme close focus , any len can be made to do it , and you can even get lenses to achieve greater than on to one macro with long enuf tubes

 heres some pics

http://e-p1.net/index.php?action=mgallery;sa=item;id=355

and some samples of the lens  at work

http://e-p1.net/index.php?action=mgallery;sa=item;id=357

http://e-p1.net/index.php?action=mgallery;sa=item;id=356

extension tubes for many lenses mounts can be had for little money on e bay attached to a fast 50 and used in conjunction with as drilled body cap and some crazy glus , the only limits are your imagination, i will not repeat the process here its been written about several times on this forum


its really not as hard as it seems , and once one start doing it , the  needs of  your particular project will fall into place , trust me  

funny ive beeen slowly moving to screwmount with many o the home adapters ive been fooling around with, the back of the 50 sits very close to the front of the lens cap i one of my conversions , its not perfect infinity focus  a little past if i think  , heres a pic with a ruler, it gives some idea of how far the back of the lens is from the ep1`s flange

http://e-p1.net/index.php?action=mgallery;sa=item;id=321

I have some adapters from RJ and a C-mount adapter from Hawk. All cost around 30 euros, all work fine. I am still waiting for a Sony adapter from RJ. Then I can mount my 300.4,5 if, a former MD lens on the m4/3 too. Can't wait!