Maybe sometime I should get together all my 50's and do a test (I swear I didn't mean to end up with so many

), but I do have the K50/1.2, a few varieties of the 50mm f1.4's, a pair of the f1.7's, the M50/2, and the SMC Takumar 55mm f1.8 (and the Voigtlander Nokton 58mm f1.4 on the way). I have to say that yes, they do have a somewhat different and distinct look, but all of them are capable of great background blur. I actually like the (S-M-C Takumar) 50mm f1.4 for general use, and I really like the quality of the background it produces wide open, as well as being quite sharp in the plane of focus. My advice to you, since you have the 50/1.4 now, is to save your money and don't get the 50mm f1.2; instead, if you want something a little different or to play more with blur, get a 55mm f1.8 (either a SMC Takumar or the K version); they can be picked up very cheep and have a very different look than the 50mm lenses. Monochrome has given a very good analysis of the various options. I would point out that what monochrome stated is only true (re the number of blades) when stopped down; keep in mind that with each of these lenses when used wide open of course present circular OOF highlights.