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Originally Posted by Mr. Pickles
Humm, I thought that if you used a really long lens like a 400 or 500 or 600 that you needed a tripod because it was too darn heavy to hold. But then you had to turn off the darn IS when used on a tripod.
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I think I've heard you say that before. You're mistaken.
IS/VR is useful and, I'd argue, even essential on a tripod. If you have ever used a 500 or 600mm lens on a tripod, you will know that the lens still vibrates, certain times more than others. IS reduces the vibration, allowing you photographic opportunities you otherwise simply would not have in certain lighting conditions.
So no: it's not just for handholding a lens. Far from it.
On lens cost: last time I checked, lenses cost money, no matter which company you buy them from. One of the things I was pleasantly surprised by when I switch from Nikon to Canon is that the Canon lenses tend to cost less, sometimes significantly less. When I occasionally take a peek at the Olympus lenses, I'm shocked at how much they cost.