The 100-400 is a good lens, albeit very dated now. It has the known dust sucking feature, and eventually, whatever is inside the push/pull, along with the locking ring, will give up the ghost. You will end up with little black pieces that fall apart and out of the lens. Happens on a lot of them.... IS is old too, maybe 2 stops if you are lucky.
The Sigma 50-500 is sharper at 500mm wide open than the Canon at 400mm, but the Sigma at 400mm is a tiny bit less sharp. It has other features though like macro mode at 200mm or so, much better IS, and a wider range.
I have tested 4 100-400Ls against the Sigma, and my original 100-400L that I had before getting the 50-500 was the only one that beat out the Sigma, in all other 3 cases, the Sigma was the winner for IQ. I really wanted to go back to the slightly smaller lighter 100-400L for transport reasons, but couldn't ever do it. Now I have a Pelican case, and the Sigma fits there nicely, transport issue solved!
Pics from the 50-500 on the 7D from this pic onwards, and many others in the gallery too.
http://teamspeed.smugmug.com …3b#!i=867851193&k=Tr3JL4g

One of several sporting shots at ISO 12800, which you need if you shoot indoor sports with this lens:
That all being said, I had to send my 50 1.4 into Sigma along with a host of test shots showing the issue. Even +20 on a body that had MFA couldn't bring it back to life. They calibrated it and I am now very happy with its performance.