Sep 18, 2019 · In happy news for full frame Canon fans, the Canon EF 70-200mm f/4L IS USM lens has been reduced by $300 to just $899! Almost half the weight of the 70-200mm f/2.8, this light and compact telephoto is the perfect companion for any sports or wildlife shoot.. I don't own a Canon 70-200 f4 L, but I borroved it once from a friend, and I was very impressed with the image quality. It was better than my Canon 100-400 L, and way better than the Canon 70-300 IS USM (I have one of those, too). I would definitely sell 70-300 IS USM to buy 70-200 f4 L, no doubt about it.