Canon really does need to update the 50mm 1.4.
Depends on what you mean by update. I wonder which will generate more revenue - the Sigma 50/1.4 A at $950, or the Canon 50/1.4 at $400? I think it might be the latter…and the 50/1.8 at $125 will generate more revenue than both.
I do think Canon will bring out a 50mm IS prime (f/1.8 or f/2) in the relatively near future. It will be priced lower than Sigma's 50/1.4, and if it has the IQ of the 35/2 IS it will outsell the Sigma 50/1.4A.
I bought the Canon 35 f/2 IS over the sigma and love it. It is compact, light weight, great IQ, and hand-held video is amazingly stable, almost looks tripod mounted sometimes. Far superior to my non-stabilized 16-35 at 35mm handheld.
I've use the Canon 50 f/1.4 for video. Even with a shoulder support, it's tough to keep it steady. I'll buy the Canon 50 IS, if it's at least f/2, but I'm still hoping it will be a 50 f/1.4 IS .