Strangely enough, the factory AI'd Nikkors go for more than the unaltered lenses. With respect to AIS lenses, they are no better than a factory AI lens on an F4. An F4 cannot do Program or Shutter-Priority without a chipped lens. So, that's a moot point. As a user of Nikon gear and not a collector (more of an accumulator of gear), I see no qualms modifying a Nikkor lens to work on a newer body. The only ones I won't touch are the ones that are actually collectible, like a 58/1.4 or a 50/2 Nikkor-S, etc. In other words, those lenses that weren't made for long or were so rare that they are worth more as a conversation piece than something to shoot with.
With respect to the coatings, the single coated Nikkors are actually pretty darn good. My only normal lens is an early 1969-vintage 50/2 Nikkor-H with a factory AI ring on it, but with the original prong from the original non-AI aperture ring. In fact, I would rather shoot with a Nikkor-S 50/1.4 than a Nikkor-SC 50/1.4 or some of the later versions of the same lens. Contrast seems lower on the multicoated versions. Noticed the same with the 24/2.8 Nikkor-N versus the NC version. Give me the earlier single-coated lens. Also, there were certain lenses that were only available in a non-AI version that are better than the AI versions that replaced them. Example: the 85/1.8. Was replaced with the 85/2, which is an inferior lens. Again, both of the 85/1.8's I've owned have been factory AI'd lenses. Current one is the final "K" version with the rubber focus ring and black barrel. At the moment, my 1997-vintage F4s is wearing the 50/2 H, and my F5, which was built in 2001 or so, wears the 85/1.8. My older bodies are wearing the AI and AIS lenses.
To the OP, I'd find a factory AI'd 50/1.4 Nikkor-S. KEH sells them as an AI lens, however, they are, of course, AI'd lenses. Expect to pay somewhere between $85 and $125 for a decent one. Use that on your FE2, instead of trying to use your non-AI lens.
-J