The Canon 400 f/5.6 is very sharp and is a great lens. It is the lightest 400mm you will find with such wonderfull glass as well. It's drawback is of course the f/5.6 which depends on your application as to how much this effects you. It is a mainstay of Nature photogs on a budget or that want to travel lite.
That said,. for about $3,000.00 ($3,400.00 @ B&H) you can get a Sigma 500mm f/4.5 EX HSM which is the absolute best lens I have ever had on my 10D! It's autofocus is the fasteds I have expeienced,. and it is DEAD on. The images are crystal clear and sharp.
taken with 10D and Sigma 500mm f/4.5
I actually got mine used in like new condition from KEH for $2,100.00 Highly recomended.
I have not yet tried the Sigma 300mm f/2.8 Prime but having experienced this 500mm,. I think that may be my next lens.