My 17-85 IS is my walking around lens, unless I expect low light conditions (then it's the Sigma 30 f/1.4). I think the 17-85 IS is quite a bit better than it's reputation would lead one to expect, and it has served me well, except for the wide-angle end distortion, but since DPP (in later versions) made correction possible, I will not look at the 18-55 IS kit as a replacement (I was initially tempted). I like the longer reach, better build, and manual focus capability of the 17-85 IS.
However, if I got the 18-55 IS kit lens with a new camera (say an XSi), I sure wouldn't turn it down ... lot of lens for the money (or so it seems from the reviews).
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