Not withstanding the abuse sometimes directed at it, I'm a very happy user of the Canon 70-300 DO IS. I try to take care to avoid issues that might cause flare, and at long lengths increase the amount of sharpening I apply.
Nevertheless I find myself looking at the 70-200 2.8 L IS (or whatever order that alphabet soup is meant to go in) with interest for the (assumed) higher quality and faster aperture. I had assumed that my interest was purely a result of not having spent too much money on my hobby recently and would be best ignored, but I now notice that Michael R lays claim to owning both of these lenses.
At the risk of persuading me to spend that money, is there really any justification for owning both?
i
I own both.
The 70-200 F2.8L (mine is non-IS 'cause the IS version wasn't announced in 2001 when I purchased it) offers better control of background blur/bokeh, as well as being a faster lens. I shot a lot of equestrian (hunter/jumper) shows, many indoors or under a roof, and the faster lens certainly helped image quality by keeping ISO down. When I wanted the reach I have, on occasion, used the 70-200 with the 1.4 extender, and found the image quality pretty good. Of course, the F2.8 versions aren't light or small, especially with the extender attached.
Compared to my 70-200, my 70-300 DO offers less weight, longer reach, and stabilization. I consider size and weight the most significant advantages over either 70-200 F2.8L. Also, some venues allow the 70-300, but disallow the 70-200 F2.8L. For example, American Airlines Center in Dallas says, "Cameras with lenses over four inches are prohibited at all events in American Airlines Center unless accompanied by appropriate media credentials." At 3.9" the 70-300 DO gets in, but obviously any of the 70-200's won't.
Finally, when traveling to remote locations, e.g., a cruise ship, an extended backcountry trip, Antarctica, etc., one needs backups. These two lenses obviously provide redundancy with good quality.
Bob