Z3rocool wrote:
...I was at Donnigton today and managed to get chatting to a guy with a 300 f4 Is and a 1.4 convertor on....
...and I was that guy! 
I haven't actually tried a 400 f/5.6, but I did consider it. I already had the t-con to use with my 70-200, so the 300 made more sense for me (420mm f/5.6 IS). I would imagine the focussing would be a bit quicker with the 400 without the t-con and the IQ would be a little better, but the IS was an important addition for me as I hand-hold pretty much exclusively (air shows etc.) and I have no qualms with the IQ i get. I do find though, that the focus can hunt a little under certain circumstances with the t-con (low contrast/light) but is pretty good on the whole.
How did you enjoy the day? I enjoyed myself - I'll post my pics on my flickr site when I get to them, but I've been building up a backlog to get on!
edit: oh yeah - my father has the 100-400, which I have used and quite like, but I didn't get this as I find my 70-200 (with or without t-con) plus the 300 suit me better. I'm not keen in the push/pull zoom, and the 70 gives me a bit wider view. Nice lens though!