If you're using the 5D Mark III, there's a known compatibility issue with this lens and a service bulletin from Canon. I sent my 200 f/2L into Canon for the update.....
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If you also want to shoot macro, the 100L makes sense. For around the cost of the 70-200/4L IS, you could get the 85mm f/1.8 and the 135mm f/2L. That's like a portrait 1-2 punch. An f/4 lens on FF is ok if you've got plenty of physical separation between subject and background, or in a studio with strobes and a backdrop (where I use f/9 or so). But for 'candid' portraits, a faster aperture is preferable.