As if there are not enough REAL and legitimate photographic terms that are important to know and understand and add to that, the plethora of electronic/digital/ computer to compound the situation. Folk have to add slang, strange contractions, abbreviations, initials and crazy new buzzwords to confound, confuse, and unnecessarily complicate simple words and related issues.
I suppose a walk-around lens is one that is convenient for general shootg while travelling on vacation, sightseeing, doing casual street photography, attending a family event, etc. Not too heavy or specialized.
It's the good old days when even some of the finer cameras had a fixed non-interchangeable normal lens in a focal lengh compatible with the film format. The Rolleiflex and many of the other twin les refer camer of the day come to mind. Although the famous Speed Graphic and similar press camera did have interchange gable lenses, most photographed stick with n normal 127 or 135mm lens because les change was not usual convening, One had to change rangefinder cams, use a second set of infinity stops and change optical viewfinder masks. nonetheless, photographers who knew what were doing were coming up with many great shots- they learned to make do with one lens.
Now that y'all know what a "walk-around" lens is the next challenge is defining the "pancake lens" which of course, it's a lens especially desingbed for photographing pancakes- that because has a FLAT fied formula. He kidding- it's a lens with a smaller physical profile so it's easier to walk- around with!
what is the best walk-around lens? Thats' up to you. If you are walking around a race track, a hockey rink, or a baseball field, and want to fill your frame with the action, a telephoto lens may be your choice, If you are walking and a boxing ring, at ringside and yo wat to capture the punches- it gonna be a wide angel. And then there are distances and a perspective issue- you'll have to decide.
I miss the good old days when the crowd in photography called developed "soup, and fixer "hypo"! I fear it's gotten to the point where our photographic language is becoming encrypted to be deciphered by the newcommers- some kind of initiation ritual!