I had a Hoya 400mm f/5.6 FD lens. I bought the usual lensed FD to EF adapter, but the quality was quite poor and it lost a stop of light, while gaining about 1.4x.
I then did some surgery on it, removing the FD mount and attaching the bottom half of an old 35-135mm EF lens. This allowed me to mount it directly without an adapter, so it went back to being 400/5.6.
The quality was very good, comparing well to my 100-400L @400mm.
I also added a focus confirmation chip by soldering it onto the contacts of the EF lens.
The only downside was it was stuck wide open, but that was not too much of a problem with a slow f/5.6.
The focus confirmation chip was also set to indicate f/2 to the camera, which cased the camera to over-expose by just over a stop, but that was easily corrected.
If you can get a big gun FD lens cheap, it's not a bad way to go.