It is quite a bit cheaper, and I know you test a lot of lenses, but I'd disagree from my own experience that it's as good or better optically. In fact, I found the copy of the 55-250mm I had softer, lower contrast and more prone to having the shake - the weight of the 7-3 IS is a plus in my book when the 55-250mm IS is so light. The 250mm was less sharp at 240mm than the 300mm is at 240mm (brief target tests, banknote on fence post yadda yadda) - I gree the 55-250 is "more value", as in "cheaper and decent value for money", but having bought a 100-400L again I've kept the 70-300 - it really is an underrated lens.I also found the AF hunted more in low light on the 55-250, and wasn't impressed by the build quality. All this is subjective, but I also didn't find the IS of the 250mm any better/worse. I did find that on a 40D, it felt unbalanced and body-heavy with the 55-250, but I suspect on a XXXD cameral it'd feel a lot better (small movements in the body are amplified through the lens more in my use with the 55-250, I should say)
Edit - I also had a vignetting issue with the 55-250mm at 250mm, wide open......significant? to me....yes.