Even though Canon has lagged behind in the sensor department in recent years, it is still the king of telephotos. I have no
doubt the new version of the lens is superior to the old one in every way -- better IQ, better AF, shorter close focus
distance hence larger magnification, better IS ... Well, except it is bigger and heavier, but I can live with these.
I had the version I for a decade and loved it, but I immediately sold it after the announcement as I am convinced that the
new one will be better. (Meanwhile, I have my 300mm f/2.8 II as my telephoto).