Generally speaking when mags and people talk of macro they are talking of 1:1 magnification - true macro - where the lens reflects an image on the cameras sensor which is the same size as the subject is in real life (eg a 2mm bug would be reflected 2mm in size on the sensor).
The canon 50mm f2.5 macro is only a 1:2 macro lens (half life size) on its own. Optically I've never heard anything bad about it, but the fact that its only 1:2 makes it generally less popular than other options like the EFS 60mm macro which is 1:1 capable.
You can of course get the lifesize adaptor for the 50mm f2.5 macro lens which brings it to a 1:1 (true macro) capable lens - but the price of the lens and the adaptor generally ends up being more than other options like the Sigma 50mm macro, Canon EFS 60mm macro and sigma 70mm macro.
Add that to its short focal length (and thus shorter distance from the lens front to the subject (working distance)) and its generally not as ideal an option for those after full macro from a single lens when there are lenses of the same price range that do more without the hastle.
Tools of the trade: Canon 400D, Canon 7D, Canon 70-200mm f2.8 IS L M2, Sigma 120-300mm f2.8 OS, Canon MPE 65mm f2.8 macro, Sigma 150mm f2.8 macro, Tamron 24-70mm f2.4, Sigma 70mm f2.8 macro, Sigma 8-16mm f4.5-5.6, Raynox DCR 250, loads of teleconverters and a flashy thingy too
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