considering you have an APS-C body, the 50mm f/1.8 makes an excellent portrait lens. If you are looking for the best stuff, be prepared to spend the money! If you are willing to make a few comprimises on aperture, build quality, and AF noise levels then the 50mm f/1.8 makes an excellent lens. I spend double that and got the 50mm f/1.8 MK1 for its better build quality, focus ring, and cult status.
The 50mm f/1.4 is better, but costs 4 times as much as the 1.8mk2. The f/1.2L is probably going be better than that... but costs 20 times what the f/1.8 costs!
Even an L zoom would be hard pressed to out perform the sharpness and bokeh-ability of the 50mm primes. They are REALLY sharp, even wide open. Once you stop those lenses down to f/2.8 or so, they have downright fantastic IQ. If you want to knock out the background, its no problem with the ultra big aperture.