I used the 50-500mm on my 300D for about 3 months last year. In the end I traded it with anothre forum user on FM forums. The only real problem id the speed. You need nice bright conditions(which we don't often get in the UK) in order to get good results at 500mm. It is f6.3 after all. I swapped for a Canon 80-200mm f2.8 L. It was the best thing i've ever done. I paired it with a 2x convertor to give me 400mm at f5.6 when i've really needed it and anything up to 200mm is fantastic.
It's a gerat lens and if you understand it's limitations you'll be satisfied with it. The only reason I got rid of it was that I couldn't keep it and get the 80-200 and I really needed something faster. Oh yeah and it's wieght means that it doubles as a rather handy exercise aid ;-)
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