Hmm, this gets asked so many times in these forums, but i'd say if you are a professional planning to use fast performing autofocus 50mm lens on people photography like in weddings - then sure, absolutely, go for it! 50L with a body like 5D mk III works just so great. With older body like 5D mk II works great too, but you are kinda stuck with the central focus point for 100 % reliable focusing (@ f/1.2).
If you are normal, amateur/semi-professional who still appreciates great image quality with 50mm focal lenght - I wouldn't put so much money on a 50mm f/1.2 like Canon 50L. You can bumb up the ISO easily with 5D mk. III so you don't really need f/1.2. There are other fantastic alternatives for 50L which fully rival the image quality of the 50L. Sigma 50mm (optically the Sigma 50mm is very close to Canon 50L, and beats the Canon 50mm 1.4 easily in IQ). If manual focusing is not a problem for you, I suggest take a look at vintage lenses like Super-Takumar 50mm f/1.4, Nikkor 50mm, Zeiss 50mm f1.4 (this one is not that sharp though), or Rokkor 50mm/58mm. Zeiss 50 MP (f/2) is an absolutely awesome lens as well.

