Taking a few hours to practice panning will save you $400, get you a lighter lens and longer battery life. Mode 2 (pan mode) is pretty useless, even at 300mm.
At 400mm+ on a 2.8 supertele, Mode 2 IS starts to come in handy due to the weight that can make the lens jitter and wobble. A monopod can cup this out completely though. Although, I wouldn't use a monopod on a 70-200.
I have pretty shaky hands, and can smoothly pan with my 300mm 2.8 down to about 1/40th with mode 2 off. I have my selector taped to off so that it doesn't kick in accidentally (try panning in mode 1 to see why that sucks, ha).
I actually find it a bit annoying due to the way the IS can suddenly stop tracking and jump back to center.
Yeah still $400 isn't much a hand full of portrait shots will make that back. 1/30th handheld with the 200 is good for IS. Thanks for the info BTW! Ta save real money pick up a MAGIC DRAINPIPE for about $500 and get the 80-200 F2.8? No IS but very sharp!
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