My first memories of this lens go to mid-2000s when very few local photographers had top of the line gear, including mostly those who were shooting for the big international agencies. Canon 1D Mark II (N) was back then the camera of choice, and copies of this lens were in a possession of a chosen few. That, and the whole push-pull zoom mechanism looked incredibly cool and - dare I say that? - manly. When I was choosing my first (good) Canon telezoom a few years later, I was internally debating the choice between this lens, the 28-300 and the 70-200/2.8 IS. The latter won because at that time the f/3.5-5.6 or f/4.5-5.6 aperture was limiting - remember, it was the time when ISO 1600 was generally the upper limit, and the usable range ended even earlier.
Fast forward ten years, the successor to this unit has been already released (and well settled), but I got a great deal on a used copy of the ol' Trombone. I'm using it on a Canon 1D Mark IV and my wife got some clicks out of it on her Canon 650D. Of course there is nothing mythical anymore about it, but how does it hold up?
Pretty well, I might say. I am confident to use this lens even wide open through the range, though it probably (probably - I never did any formal testing) helps to stop down a couple of clicks. In the limited time since the acquisition, this lens has carried me through a decently long journey to Israel, a figure skating championship, long days of working at the local legislature, a bunch of street events and just shooting stuff around the city. I can say that the 400mm capability is pretty fun to have; I can get by with this lens and the 16-35 in most cases, not caring about the middle ground (though maybe throwing the 24-85 in the chestvest pocket). Apart from the IS that is pretty subpar by today standards - it looks pretty absurd that my ultrawide has a better stabilization unit than my tele - and missing weather sealing, there is nothing about this lens that would paint it for retirement. Longish MFD is also a consideration, but not a deal breaker.