Troy,
I've shot with a CL + 40mm Summicron, roll film backs with a 4x5, and a Fuji GW690II with a 90mm f:3.5 for a couple of decades.
I've shot a lot of Panatomic-X, Agfa 25, and Pan-F(+) souped 1+100 in Rodinal with the 40 Summicron. Those are potent combinations, and I've been happy with the results up to 11x14, the furthest I've pushed them. Haven't felt the need for 16x20. Experienced MF and LF photographers have stared at the 11x14's from slow films and Rodinal shot with the 40 Summicron and puzzled over how well it does. There is grain visible if you look for it, but accutance and apparent sharpness in the print is great, especially considering negative size. However, the Fuji GW690II lens is in the same league for resolution on the film, but with the larger negative. Mostly I've shot Velvia with that, and gotten great results.
FWIW, I've seen an independent assessment of the new CV 40mm Nokton M-mount lens that compares very favorably head-to-head with the 40 Summicron and the Minolta version of the 40 Summicron. For me the hallmark of a Leica lens is the ability to carry separable detail further into the shadows and highlights without compressing the overall scale. The comparison I saw of the CV 40mm didn't cover that aspect of performance.
I'm not really a big tester, so I can't give you resolution to the LPM and that kind of info. But I am careful enough, and care about sharpness enough that I shoot even with the CL on a tripod, monopod, or chestpod much of the time. I'd choose for myself on the basis of what works well for me in the field. The Fuji 690II is bulky, and takes up a small bag by itself, so it doesn't get out a lot even though I love the results. These days I'm more likely to carry an Agfa Record III folder with a 105 Solinar for 6x9, and it does beautifully at the print sizes I currently make. It's slim and light enough that I can stick it in a small compartment of my 35mm rangefinder bag or the 4x5 field camera bag. The Record III and an Isolette I 6x6 combined take up about the same space as my spot meter.
There's a group of people who shoot the 40 Summicron on their M's (as opposed to the CL) because of its focal length and optical performance, especially for the price, and it was considered a real sleeper when it came out. Comparing it to a 35 Summicron would vary depending on the vintage of the 35, but it's in the same league as concurrent 35mm Summicron production. Leica has tended towards higher contrast in later designs.
This isn't really a complete answer, but I hope it helps some. Let me know if you have questions. If you want to send me a roll of the film you're interested in, I can run a roll in any of the cameras I have and mail it to you for processing and assessment. If you send me 120 and 35mm, I can do a same-subject comparison of the 40 Summicron and the Fuji 90mm f:3.5 on the GW690II.
Lee