<p>I simply worked my way up from 200/2.8 to 300/2.8 to 400/2.8 in search of my preferred focal length and image quality. Have considered moving on up to 600/4 but I have had so much success with 1.4x and even 2x converters on the 400/2.8 that I remain satisfied...for now. It is heavy, especially my old manual focus Nikon, but I use it on tripods and monopods at all times. </p>
<p>I've gone through 200/2 and 80-200/2.8 lenses and have settled on the Canon EF 70-200/4 L and Canon EF 300/4 L for my lightweight, handholdable, autofocus requirements. Image quality is not in the same class but shooting with them is very easy and makes up for the loss. </p>
<p>Currently using them all on a 5D II, primarily for motor racing, but have used them for soccer, swimming, whitewater slalom, and landscapes. </p>
<p>I have not done wildlife, but the lens of choice, especially for birds seems to be the 500/4. I used to hike with the 300/2.8 but the 500/4 would certainly provide more bang for not too much more weight. I only "hike" with the 400/2.8 from the parking lot to the sporting event which is never more than five minutes! I can walk around all day with the 70-200/4 and the 300/4.</p>
<p>For your purposes I'd be comparing the 300/2.8 and 500/4.</p>