Agreed. I have various FSU lenses, M39 and Contax mount, and the Industar offers the most modern rendering. In fact many decry them for being too neutral and sharp.
That's very interesting. I wouldn't have thought of "neutral" to describe the two Industar 26m I've shot with, and I've found that the sharpness mainly comes out at f/16, but then again, the 26m is essentially the bottom-end 50's and 60's FSU lens--mine are "Red P" but I've never really seen any that weren't.
I've found the color rendition, subjectively speaking, warm and vintage-looking, much like the Argus Coated Cintar or even my Pre-AI NIKKOR-S f:2 5cm. One of the two Industars does have a terrible flaw in the form of an large group of air bubbles that catch the light and lead to a slightly blurry, greyish bright patch in the center of the negative if the subject was too bright. The other has plenty of dust in it but performs very serviceably, leading me to think that it would be an excellent performer if it were professionally cleaned.
Again, I'm not arguing with you regarding your assessment of the Industar. My sample size is rather miniscule and some of the color response may be chocked up to the fact that I buy two-to-three year out-of-date Superia in bulk at the discount tienda here.
Soon I'll be trying out an Industar-50 for m39 Zenit C, which should be even more comparable to the Elmar in terms of optical formula. As I understand it, the Elmar is a modified Tessar with the aperture in a different space in the formula. The Industar-50 should be a normal Tessar of the same focal length and maximum aperture as the Elmar, so I would expect similar performance but perhaps a difference in the way the sharpness and IQ changes at different apertures?