I wonder how it compares to Samyang/Rokinon 500mm F6.3
http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Delectronics&field-keywords=Rokinon+500mm+F6.3+Mirror+Lens
This costs $165 and also includes 2x teleconverter.
It is something I would consider to use with E-M5 and its stabilized EVF. I understand that handholding won't be a problem.
I am cheap and curious. I recently bought regular 400mm F6.3 lens for $25, some Tele-Astranar. The lens is light, even my 7 year old son can handheld Pen with it attached.
I can use it handheld and focus with LCD but it's not very comfortable and I'm a bit slow to focus. And the lens is not that sharp. I also have Panasonic 45-200mm zoom. I think that for very distant objects, when 200mm zoom image has to be severely cropped, this $25 lens allow to get similar level of detail, may be a tiny bit less. But, I haven't tested it on tripod yet.
So, it probably makes little sense to use it if I have 45-200mm zoom. I will try it on tripod with m42 2x teleconverter but I don't expect much.
But, if this lens was sharper it would make a perfect sense. I think if 400-500mm lens had twice as much resolution as this $25 lens it might beat native 300mm zooms for distant objects.