True, 1:2, for macro, but it's also an excellent mid telephoto lens, with stabilization, which the 110 doesn't have as I remember.
The 1:2 for me in macro use is not a big distraction due to the focal range.
The close focus distance is a bit of a stretch due to this, but where I use the lens more often in the field is for distance work. Being able to hand hold such a focal length (aided by the OIS) is a huge asset for me.
Paul Caldwell