Lenses for 7D with 5D in mind

Hi,

I just got a Canon 7D, moving up from a Nikon D50. I bought a Canon 50mm 1.4 lens as a starter lens until I can afford to buy more lenses. Is that a good lens to start out with? I like it so far, but it feels really long to me because of the cropped sensor.

I hope to eventually work my way up to a 5D, thats what is what is keeping me from returning it for now. Is there another lens you would suggest that is wider than the 50mm, but still will work well on a 5D, while still keeping in the $300-$500 price range?

I will be using the camera for parties and events, doing both photography and video for them, as well as video interviews and photo headshots.

Thanks for your help and suggestions.