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If you have enough light to shoot the 135L at f/2.0, it will notably outperform the 70-200 IS II (at 135mm) on bokeh. And it will notably outperform the 85L on subject sharpness, focusing speed, and focusing accuracy, while giving up maybe just a smidge on bokeh. The 135 L is advantageous for candids, too, because you work from a greater distance with a smaller black lens that doesn't draw the subjects' attention as readily as the 70-200. The 135 L is a hard lens to give up. I can see wanting the 70-200, but not substituting it for the 135 L. You ought to have both. If you do, you don't need the 85L.