Canon EF 75-300mm f/4-5.6 III Lens

Pros:
Telephoto range
4x zoom ratio
Lightweight
Cost

Cons:
Very slow focus
Hard bokeh (depth of field blur)
Rotating front element
Minimum focus distance

This is the least expensive telephoto zoom that Canon makes. For an entry-level telephoto lens it’s not bad, but you may want to consider the other lenses that Canon offers in this focal length range: (street price for new lenses)
EF 75-300mm f/4.0-5.6 III - $150.00
EF 75-300mm f/4.0-5.6 III USM - $180.00
EF 70-300mm f/4-5.6 IS USM - $ 550.00
EF 70-300mm f/4.5-5.6 DO IS USM - $ 1,100.00
The main problem with this lens is the very slow focus system. If you’re used to a DC focus motor on a smaller lens, you will still notice how slow this lens focuses comparatively. If you’re used to an Ultrasonic Motor, this lens is probably not for you. This somewhat limits this lens’s ability to be used in action situations, but for wildlife you probably won’t mind. If you have the aperture stopped down, the background blur (bokeh) is unappealing. The long focal length inherently has a lot of shake, so this lens needs good lighting to keep shutter speeds up, Image Stabilization would of course help. The good news is that the USM version (with the same optics) is only $30 more, well worth it in my mind. If you are serous about using this for sports or low light conditions , you should really consider the 70-300mm IS USM. If you have some serious cash to invest, the Diffractive Optics version is a pro-grade lens.

Bottom line: Yes, it’s the most affordable, but a novice shooter will outgrow its features quickly. There is very little reason not to get the USM version instead, and the only downside to the IS version is cost.