Just another take on "L" lenses....
Some will say that certain non-L lenses are better than their L counterparts.
Very wide maximum apertures and extremes of focal length are the big challenges in lens design. These properties introduce certain optical problems that need extra help to counteract.
The "L" indicates, as has been said above, that the lens makes use of some exotic technology to solve a problem. In the wide-angles, standards and short telephotos, "L" means an aspherical element to control aberrations such as distortion, spherical aberration or coma. The L technology allows a faster lens without objectionable optical defects. Hence, the 24mm f/1.4L, the 50mm f/1.2L, and the 85mm f/1.2L, and the 20(24)-35mm zoom.
In the long telephotos, "L" means either ultra-low dispersion glass or fluorite element(s), which allow a much more complete control of chromatic aberration--the inability of a lens to focus all colors of light simultaneously. So lenses like the 300mm f/4L, 300mm f/2.8L, 400mm f/2.8L, 500mm f/4.5L, and 800mm f/5.6L can produce images virtually free of any color fringing. The exotic glass doesn't hurt in enabling those fast maximum apertures, either. And don't forget to count the outstanding 80-200mm f/4L zoom.
There are some FD lenses that have garnered a reputation as being "as good as an L lens." The 135mm f/2.0 may be the most celebrated of these. It's not an L lens, simply because they didn't have to resort to the expensive, exotic techniques--it was that good on its own.
Build quality among New FD lenses depends more on their intended price point and market, as well as date of introduction. It's not difficult to partition the line into low cost, medium cost, and premium lenses. There is so little perceptible difference in build quality among the medium and premium lenses that it hardly bears notice. The only lenses in the line that are clearly different are the low-cost lenses introduced late in the timeline, and these were influenced as much by general manufacturing trends in the industry as by any design dictum, I think.
Older breechlock FD lenses are inevitably built tough, but so was everything else in those days. But even these lenses have subtle internal differences depending on their price point. There is even sometimes some plastic in these "all-metal" lenses.
If you can afford to stop down a bit, you'll be hard put to tell any FD lens from another, except perhaps if you are making huge enlargements. Even the least expensive ones are capable of excellent performance.