Not to start "that" discussion again, but WHAAAAT!???!?!? The bokeh produced by the 50/1.8 is in no way "really good"; do you really like those sharp-edged pentagons?
By contrast, the 50/1.4 produces much more pleasing near-circles, owing to its 8-bladed aperture; not as good as the 50/1.2L or the 85/1.2L, but miles better than the 50/1.8.
Buy right, buy once. The 50/1.4 is 2/3 of a stop faster than the 1.8; not inconsequential if you're moving from 1/50s at f/1.4 to 1/30s at f/1.8 (difference between sharp and blurry); or from ISO2000 at f/1.4 to ISO3200 at f/1.8 (difference between completely useable and fairly noisy, esp. on the 40D).
The 50/1.8 is a good lens for the money, don't get me wrong. But the 50/1.4 is in a whole different league (with the Sigma 50/1.4 in a different league again).
I'm not going to get sucked into an argument about the law of diminishing returns... sure, the 1.4 lens better be better, it costs 3 times as much. But, is it three times better? Well, if all you look at is certain out of focus shapes, then perhaps, but I simply said it produces really good bokeh, (maybe not the Canon version, heck, I don't know about that) especially when compared to the zoom lenses, and typical kit lenses... and on DX. It becomes a telephoto lens closer in behavior on a DX body to the 85mm 1.8 on full-frame than a typical normal lens. My older, Japanese Nikkor copy is plenty sharp and makes great images, is very small and light, and I can afford a spare. And it's about $120 - tops. What's not to like?? Not enough "sharp-edged petagons" to turn me off... although there are some sharp edged highlight artifacts depending on the image, they're usually round.
Just a few samples I took with the nifty-fifty when I first got it... nothing else but to see what hand-held wide-open shots would look like.
f/1.8 ISO200 1/250
f/1.8 ISO400 1/125
f/1.8 ISO800 1/90
f/1.8 ISO800 1/80
f/1.8 ISO800 1/80 (honest, I don't drink this stuff... )