Hi Bill,
Traditionally, people favoured the EF85mm F1.2L USM on a full-frame camera, and the EF50mm F1.2L USM on crop-factor cameras like the 7D (50mm x 1.6 = ~85mm), but for head and shoulders portraiture - personally - I prefer the EF135mm F2.0L USM (and on a crop-factor camera, 85mm x 1.6 = ~135mm), so I'm not sure I'm much help there! (the longer focal lengths give more pleasing compression, but of course, a narrower field-of-view).
My suggestion would be to do a bit more research as to whether razor-thin DoF is something you really want to spend a lot of $$$ achieving; sure, it's a cool-looking effect, but (like over-processed HDR, Orton effects, forshortening with WA lenses, spot-colour, and a lot of other short-lived fads), you may find that it's something you get sick of quite quickly ... and then you'll have a very expensive paper weight. How do I know this? Well I have the 85/1.2 and the 135/2 and the vast majority of the time they're just taking up space in my lens bag whilst my EF70-200mm F2.8L IS USM II takes pride-of-place on my camera.
Keep in mind too that outside on a sunny day you probably won't be able to go much under F2.0 because you won't be able to get your shutterspeed high enough.
Hope this helps!