i own 5d m2 , 24-70mm f2.8L , and 50mm f1.4 USM. i do some portraits recently and my friend use nikon 85mm f1.4G. i was so amazed with the picture produced by the nikon lens. the bokeh is so creamy compare to my 50mm f1.4. so which one is better in term of bokeh and sharpness at wide open ? the 85mm f1.2 or the 70-200mm since both lens have similar price tag in my country.
I have the 85LII and, I must say, when you nail the shot with it the 85 does deliver beautiful results. I use the lens a great deal, but my hit rate is still 50-50, and that's using a 1Ds3. With my 5D2, the 85L does not focus as well or as fast, so my hit rate is much lower. If it is bokeh you're after, you may want to consider the 135L which gives gorgeous results, has fast AF and is half the price. I have alway resisted the 70-200 2.8 because of its size. I couldn't imagine doing long shoots with it.
Here's a shot I recently took in the market with the 135. It was pretty dark, but I was able to snap this off pretty quickly: