I personally have used both and despite all the features of the 1d4, I still like the 5d2 more. The cost/performance ratio is much better with the 5d, and it is also full frame which I love for the studio/fashion work that I have been doing a lot of recently.
1/200 sync speed doesn't mean much with studio lighting, it only really make a difference if you are shooting outdoors and want to crush the ambient.. which is possible with powerful lights and ND filters.. so I wouldn't consider that a factor.
for BIF the 1d will obviously be better with the crop of it's sensor, 10 fps, and great servo tracking. The 5d would be better for the set up landscape, flower, and other shots.
all in all it comes down to what you value more. IF you want both of those options a 7d and 5d2 would be a great combo, for a lower price than the 1d4 is. Not to mention with the extra money you save, you could buy some nice L glass.