70-200 f/4 L USM is a nice lens. I think it'd be a big improvement over the 75-300 USM III. Most of shots are full frame now or on crop I often used a 1.4x extender with it often, but here's one on the crop that I think shows some of what it is capable of. This is just a test shot, but shows the potential.
2013_01_04_2314_upd by dthrog00, on Flickr
The question is what do you want to use it for? Outdoor sports? Good pick. Outdoor portraits? Good pick. Wildlife? Typically, not the best pick.
That said, it can do bird feeder stuff if shooting from close enough. This one is with an extender on a crop camera.
2013_01_06_2431_upd by dthrog00, on Flickr
This one was just plain lucky because the eagle was so close, again with an extender.
2013_01_26_2730_upd8x10 by dthrog00, on Flickr
Dave
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