how? I mean, I get the whole "is it worth the extra $1400?" argument, which I don't think so, but I see more vignetting and less sharpness and contrast in the 1.8 in every interval. Like I said, when it gets to f/4, they look pretty much exactly the same. I was surprised to see the amount of CA on the f1.2 when shot wide open. the black looks purple.
Robert,
Yes, the black looks purple--that's chromatic aberration, which is something the 85/1.2-L suffers from pretty severely at wide apertures. It also has a green chromatic aberration as well; one color in front of the point of sharpest focus, the other color behind the point of sharpest focus--but that does not show up on a flat test chart! That purple AND green CA is now often called bokeh chromatic aberration, but the proper term is longitudinal chromatic aberration, and longitudinal CA is VERY hard to eliminate in post--as in basically impossible to eliminate; lateral chromatic aberration, ie color "fringing" is easy to eliminate, and the better new Nikon cameras know the lens by CPU EXIF exchange information,and those cameras can "map out" lateral CA from all the Nikon lenses entered into the camera profile. I suspect Canon will be introducing this same feature pretty soon on in-camera created JPEG images. It's a software thing,and it would be easily done, if it became a design priority,and it might, in time.
Anyway...yes, there is plenty of purple CA shown, and the L lens does resolve better on the test chart--BUT, in real world shooting of many subjects, CA is not as visible as it is on these test charts. As far as CA goes, a good comparison would be between the Sigma 50mm f/1.4 and the Canon 50/1.2-L; the Sigma is targeted directly AT the CANON...Sigma deliberately went after one of Canon's most highly desired lenses, and priced their lens $1,000 lower, with higher resolution and lower CA. Of course, it's a Sigma and not a Canon-L lens so for some people that makes a difference. A lot of people are purchasing lenses based on test chart and pixel-peeping, and also on status value and marketing practices; the "status" value of f/2.8 appeals to many people, as does the L-designation. Worth,price,and value are all separate things, but many people intertwine or confuse them.
What does this have to do with the OP's question? Well, looking at the Chart linked to above, the differences on the 1Ds-III at 22 MP are more pronounced than on the 1Ds-II at 16.7 MP. I think a few things are relevant here: there IS A WAY to map-out lateral chromatic aberration on in-camera JPEG images and also on RAW images, and Canon will probably work on that in the future. Also, the differences between the 1.8 and the 1.2 and the 2.8 and f/4 70-200 lenses is reasonably small,and on BigTwinkie's current camera, the difference is probably very,very slight. On a 10-12 MP sensor, especially a FF model, any lens looks good; as we go forward to the higher and higher and higher MP count sensors, like 17MP on 1.6x ie 7D, lens quality and lens characteristics become a bigger problem,and better lenses are needed. And finally, these lenses last a LONG time. In amateur use, I'd expect most Canon L lenses to last 30 years. These L-grade Canon;s are built like TANKS! These lenses will last two decades or more.
The 70-200mm f/4-L IS is the NEWEST of the Canon 70-200's; as such, it has the best design Canon could come up with for the price point. I think it is worth every penny of the asking price--the 2.8 IS model that I own is known to be weak at the longer focal lengths, and I think Canon corrected for that in the design of the newer f/4 model. Lenses have their own signatures, their own problems, and the test charts show those, but real pictures show what the lens can do. I think it really come down to, "Will I pack it, or leave it home?" ie--is the size/weight so high it'll ride on the camera, or sit at home? Most of the modern lenses now are pretty good. A few are great. Worth, price, and value; the 70-200 f/4 L-IS USM...it's got all three bases covered. What's it worth to have a small,light, pro-grade lens?