Depends on the lens. On really good lenses, 300 f/4, 100-400, 100mm macro, there isn't really any change that I can see. On other lenses, like when I tried it on a 70-300IS, there was noticable degradation.
It's off-topic for this thread, but here's a shot I took today with the 1.4 + 100-400 at 560mm f/8 at about 10ft. I should note that neither of the pics I've posted had any PP except cropping, resizing and converting to jpg.







