Good glass is subjective. I personally hate the nifty fifty but time and time again you will hear people call it good glass. Rent some lenses and figure out for yourself what you like.
good glass allows you to use your camera to it's potential or nearly so. what's good for a rebel is not necessarily good for, say, the 5d3.
good glass refers to the entire lens, not just the optics. there are plenty of lenses that are optically very good but do not focus reliably. these i call "she-it glass". the 50 1.8 is in that category, imo.
I, like a lot of other people, bought the 50mm f/1.8 II because it is 'good inexpensive glass'. I put it on my T1i and could do things that I couldn't do with the kit lens. I put in on my 60D where it really shines. Nice light, cheap, wide aperture, decent focusing lens. I really like that lens on my 60D. It just works.
Last week I got a 5Dc. The 5Dc/50 1.8 combo is a nightmare. It can't/won't focus reliably under ANY conditions, low-light, ETTL-II flash, bright sunshine, it just isn't reliable. And it is too wide (focal length). That lens is less than useless to me on the 5Dc. I prefer the 85 1.8 and 28 2.8 on that camera.
I have a Tokina 19-35 that is good on my film body. I find it worse than the EF-s 18-55 on my 60D. It comes to life on the 5Dc. Go figure.
Good apparently depends, a least a little, on what body you bolt it to.



