While the 24-70 ii seems like an amazing lens, it does not replace the 50 1.4. When I have that thing on I tend to stick around 1.6-2.2. This is for the nice bokeh which 2.8 cannot replicate (unless you are super zoomed). Also, 1.4 vs 2.8 is completely different in low light.
I'm not saying I wouldn't rather have the 24-70ii, but it does not replace the 50 1.4, but I can see how the 35L does.