I would go with the 50 1.4 since its a good price for a mid point between the two. I also don't think the 1.2 would be much benefit given that its so shallow ( even the 1.4 was pushing it to me ) of course DOF on full frame is different so who knows in that case. As for the 70-200, obviously the new one is better, but the MK1 is a great lens and has been used for years by many pros. I bet if they did a study of the most sold pro level lens it would be that one ( or atleast Canon lens anyway ).
Also, I have a theory on the new L lenses being released. They are supposed to be razor sharp, which I think is a good indicater of the next camera. I think the new 5D will have such a resolution that it will require higher quality glass or else pros would be disappointed in their current glass and possibly dislike the camera when it is finally released. They get people to upgrade now so that a good majority of pros sell off their old and get the new, and then they drop the bombshell of the new 5D and everyones happy. Depending what body you are shooting with, I don't see why you would spend $2500 on a Mark2 70-200 when you can get a really good used mk1 for around $1300 right now. You could buy another L lens with the left over cash.