Where Is the Nikon 50mm F/1.2 II?

According to Nikon Rumors, a new 50mm F/1.8 may be coming soon. That’s cool: but what about something for more of the higher end and professional crowds? Where is their update to the 50mm F/1.2?

When I was in a meeting with some Nikon reps previously, they were very proud that their finally completed their trio of F/1.4 lenses with the 50mm, 35mm and 85mm. But in the back of my head I couldn’t help but think, “Hmmmm, so where are you F/1.2 lenses, huh? Canon has theirs.”

If you head over to Flickr and check out this user’s profile, you’ll see that a lot of the photos were shot with the Nikon 50mm F/1.2 lens. There is even a really large Flickr group dedicated to this lens. But it still begs the question: where is the new one? Will it take longer with the earthquake that happened?

Let us know your thoughts: would you buy a new 50mm F/1.2? If not, what lens would you buy?