[PNF]

I'm sorry, you guys'd be kidding yourself if you can hold your 70-200 f2.8 (non-IS) steady even just at 1/60 speed without any sort of support (mono/tri pod or something). that lens together with a body will weigh more than 4-5 lbs, and if you add an external flash, you're looking at 5 lbs of hand held easy. I wont say that I work out a lot, but thats a big piece to hold steady to take shots. You need the IS for either version, unless most of the shooting you're doing will be outdoors.

Having the IS doesnt give you 1 more stop or allow you to really to shoot at 1 stop lower shutter speed IMO. It just ensures that even at 1/60 handheld, 4 out of 5 photos (assuming you have steady hands), will come out decent.

For an indoor shot, (i.e. concerts), you need 70-200 f2.8 IS WITH a monopod to really maximize your shoot IMO. (sure, usually stage lightings are enough, but we all know, the color balance usually are whack and you'd really want to shoot at highest speed possible)

There are too many variables.

Udub, go for your option 2!! hah, 50mm 1.2L is awesome! But, if I may, I'd rather have this combo though.

70-200mm f4 IS, 35mm f1.4L.

50mm f1.4 is actually a very well-built glass and its performance is amazing for its price. I dont own one, but I borrow it from my friends from time to time. I have never tried the 50mm f1.2.. but because I also have a crop body, I find 50mm f1.2 is too far out for me for an everyday use.

I'm waiting on the 35mm f1.4 MK2 that is supposedly coming out later this year. I just hope that the 35mm f1.4 will stay under $1500 after they jack up the price.....(or just go for 35mm f1.4 MK1 for $1200?)