Mike if they sold a 400mm f4.0 IS, they wouldnt sell as many 500 f4 or 400 f2.8 IS.
It’s a fantastic lens but when comparing apples to apples I really dont see it as being any better than the 300mm f4. Sharper? Only because you’ve added a 1.4 tc to reach 420mm. Anytime you add a TC there will be a hit to IQ. However, Ive got dozens of shots with a TC on the 400mm and if I didnt tell anyone or hid the exif no-one know.
Faster AF?
Again the diffference is minute..If your shooting really fast action that might make the difference between a keeper or missed op. However, thats largely attributable to the focusing distances. The 400s MFD is 12feet, I have mine set at 21feet. If I drop down to the MFD its focus speed is gutted.
The 300 f4 has much closer MFDs..I tihnk at tis minimum its 4 feet.
Hence its slightly slower to focus. However that closer focusing capabilty make it a far superior lens for long lens/ short distance applications…Dragons, Butterflies, Frogs, Humming birds, etc. So to say ones better than other no, just slightly different.
Either way you will love the 400 for *birding*. If ever a lens was made strictly with one application in mind, its the 400 5.6 and birding