These things generally cost US$40 to $50 as a Zorki or Fed, and approx double that when stamped Leica. They all come from one of two different manufacturers/factories between the 40's and mid 50's.
If you are lucky, you'll get one that does not require work - no shutter banding, correct shutter speeds, no pin-holes on the shutter curtains and speeds that operate at all settings. The problems that one encounters with them are probably no different to a genuine Leica (IId, IIf, IIIc and IIIf) of similar vintage. It boils down to economics - is it worth while spending US$150 to 250 for a full CLA (clean, lube, adjust) on a $50 to $100 camera as opposed to ones costing btwn $300 to $500.
I have the practically whole range - Zorki 1, Zorki 3, Zorki 4 and various Kievs - 4a, 4am, etc. Mechanically, they are not as good or as consistent as their German bretherans - poor quality control, inferior parts, odd smell from the grease and glues used, etc.
Optics are reasonable. On 4x6 Walmart (ie machine) prints, you cannot tell much difference from pictures taken with mass-produced zoom lenses from Nikon, Canon, etc. However, when enlarged to 8x10 or scanned, Russian optics are not as good as prime (non-zoom) lenses from Nikon, Canon, etc. Less resolution overall, out-of-focus areas may not be smooth enough, poor corner performance with larger apertures, etc.
Mike,
Melbourne, Australia
