Hi All,
I just thought I'd let you know what came of my introduction to L lens disappointment. I returned my suspect 17-40mm F4L lens and the supplier confirmed the lens was faulty through their own testing. They dispatched a replacement and now I'm a happy camper! 
One thing that was immediately obvious with the replacement copy was the focus ring was *very* smooth compared with my first copy (probably not relevant, but made the lens feel nicer!).
Putting that aside though, my kit lens no longer shines against my new 17-40mm L copy. At 17/18mm F4, the L lens is now definitely sharper than the kit lens (the way it should be!). Looking back at the images I was getting out my first 17-40mm F4L copy, it is like chalk and cheese!
My faith in Canon L glass has been restored and I'm looking forward to trying my new F4L copy "in the real world".
Thanks to everyone who inputted to this thread and especially those who encouraged me to return the lens and get another copy! I'm very glad I did! 
I'll do some more outdoor testing on the weekend hopefully.
