Canon 75-300mm f/4.0-5.6 EF III Lens

PROS
1. Cost (can normally be purchased for under $200)
2. Zoom Range
3. Lightweight

CONS
1. Slow To Focus (as compared to USM)
2. Front Element Rotates

While not the greatest this lens is capable of produces really good photos. This is Canon's lowest priced lens in this zoom range, so expect to give up some of the luxuries with it. My biggest complaint is that is is slow to focus, but then again I normal have one of Canon's USM lenses on my camera (the 28-135mm IS).

When used outside in good light this lens works very well. However, when used inside, or in low light, the images aren't as sharp and clear, due to lens shake (this is where the IS version has the advantage, or if used with a tripod). As long as you are using a faster shutter speed the photos taken with this lens will be fine. If you are going to be using it to shoot birds or wildlife with then this lens isn't a bad choice, and the price can't be beat, but don't plan on using it for shooting portraits.

For the difference in the price I would look at the USM version, though, due to the faster focus. And, if your budget supports it I would recommend the IS version of this lens, as I am sure that would greatly enhanced the photos (as it will compensate for lens shake), especially if you are going to be using it in any low light situations.

I personally do not use this focal length that often, and when I do I use it outside when it is well lighted, so the other features aren't that important to me. Although I wish I had spent the extra and gotten at least the USM version. I can say that if I used it more often then I do now (I have had this lens for about 4 months now, and think I have only used it twice) I would get the IS version.