Personally, I think the 50/1.2L was and is wishful thinking. Low-light shooting in the digital age is best handled by high ISO, and I think the market for a super-shallow DOF lens in that focal length is too tiny for Canon to bother with. But I've been wrong before, and might be this time. Conceivably they'll do it for prestige rather than profit, like they do the TSE lenses, and like (IMO) they did the 50/1.0 L. But on straight economics, my view is the lens wouldn't be a moneymaker.
Except possibly some high-priced wide angle lenses and maybe a supertelephoto or two for PR purposes among sports shooters, I think Canon is done with prime lenses for the time being. They are high on zooms now. If I were in charge over there, I'd consider updating the 180 macro and the 300/4, but that's just my wishful thinking talking!
I agree with M.G. that this was probably it till Photokina. No inside knowledge, just guesswork here, though.
