Peaked lapels on single-breasted jackets used to be rare (although not entirely without historical precedent), as they are generally considered to be more formal than notched lapels. These days, however, they seem to be much more common, presumably because they add some extra “flair” to a suit and a suit these days is pretty formal in itself. Personally I often find that they are just “too much”, especially if the lapels themselves are rather wide (which seems to be an emerging trend, thanks to designers like Tom Ford). While the lapels on the Hackett suit above are rather modest though, I still would have preferred them to be of the more traditional notched kind. The saving grace is that I mostly wear the jacket unbuttoned (it is a three-piece after all) and this creates an extended roll of the lapel that make the peaked lapels somewhat less prominent.