This is a tough one.
I used to own the 85mm f/1.4, and like a fool I went and sold it. Of all the lenses I've ever sold (I've sold a few), I miss that one the most. I've wanted to purchase another one ever since, but finances just haven't allowed for it. All that said, the Nikkor 85mm f/1.4 AF-D is in a class all by itself.
Even still, it'd be hard for me to justify giving up my 17-55mm f/2.8 to get the 85mm f/1.4 that I'm pining after. The 17-55 is both more versatile and more technologically advanced. Things like AF-S and modern lens coatings really do matter, and when you consider that the 85mm f/1.4 is missing these and other newer technologies, I feel that the lens is slightly overpriced. What's more, my 17-55 is almos always useful. An 85mm would be useful only occasionally.
Furthermore, I now have a Nikkor 70-200mm f/2.8 AF-S VR, and it's now even harder to justify purchasing the 85mm f/1.4. Sure, the 85mm is more convenient from a size perspective, and perhaps less intimidating to your subject. And it also does f/1.4 (though in my experience this was a double-edged sword—I got as many as "misses" as "keepers" below f/2.0 with this lens). But from the standpoint of image quality, I now have even less reason to own another 85mm f/1.4, because the 70-200 is just so darn good. Contrast is stunning (maybe better than my 85mm f/1.4 was), sharpness is fantastic, and the bokeh...well, along with the 200mm f/2, the 70-200 is the only lens with bokeh comparable to the 85mm f/1.4. Honestly, when I compare shots taken with the 70-200mm f/2.8 and the 85mm f/1.4, I can't really tell a difference in bokeh. They're both gorgeous.
Bottom line, though: the 70-200 is so much more modern and versatile—for about $600 more than the 85mm—that I don't think I'll be able to convince myself to pull the trigger on another 85mm anytime soon. I love and respect the 85mm for what it is, but the 70-200 is just better for most of what I do. And no way I'd ever give up my 17-55mm for the 85mm. Despite the fact that it's a DX lens, I feel that the 17-55 will go down in history as another Nikon legend. The sharpness wide open is truly amazing, and the versatility can't be overstated.