I have recently gone through the same agony between the two lenses.
Ultimately, it came down to the cost, the price difference -if I remember correctly- was quite a bit. And also the fact that the 300 4 IS L had good reviews from the beginning.
So, here are my quick thoughts:
- 300mm on my 1D series:
* Lens by itself, it is average focusing, works really good, great IQ.
* With the x1.4TC, the AF slows down, but the lens definitely takes great photos.
* At x2TC, the only available focus point is the Center, and focus is really slow. Still good photographs though, if you can afford the aperture values.
In conclusion, this is a great lens at 300mm, best TC is 1.4 (as it keeps many of its original features), and if you have a x2TC, the resulting 600mm could come in really handy on a non-obscure situation. The secret to this lens, at least to me, is to manual focus at x2TC. The focus ring is incredibly smooth and effective.
If someone was asking me which lens I want for my b-day, I'd say 2.8 IS L. But if I had to pay rent, and my budget was tight, the 300mm is an outstanding lens, and splurge (live a little) and get the x1.4TC for it.
Cheers