Is this Zenitar Lens any good?

16mm won't really give you the fisheye effect or even a particularly wide angle on a crop sensor, for that you need 10mm or wider, something like the Tokina (Pentax) 10-17mm would be a better buy.
 
you really want an 8mm for the fish eye effect, this one will give an approx focal length of 24mm with your sensor and will only work in manual mode/manual focusing.

Always look out for lenses with the A setting on the aperture ring as these will work in AV/aperture priority mode on your camera.
 
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