It should!
.. do even better than something like this ....
_DSD3666_01.JPG
That's at f/1.2 on a D300, which is APS-C so for similar framing a 135 format sensor will do better. I've found that the difference between f/1.2 and f/1.4 in terms of DOF is not much, or enough to justify added expense of the aperture simply for DOF. The advantage of the faster f/1.2 aperture is simply for the additional exposure leeway. Note that the Nikon 50/1.2 doesn't actually have good bokeh either.