I've had this lens for a few days and am very pleased with it. Given the fact that it's covering such a wide range, I didn't expect it to have very high IQ, yet I am pleasantly surprised. I measured it against my super sharp Nikon 70-200mm f/2.8 VRII with TC-17, both @ 340mm f/6.3 and f/8, and the IQ is about the same on a D300s, even though on a full frame D3s, the 70-200mm + TC-17 is slightly sharper. This is quite remarkable, because 70-200 f/2.8 VRII is one of the best lenses Nikon has ever made, and it can produce better pictures at 100mm than the highly regarded Tokina 100mm macro lens I own, and even when shooting macros, the 70-200 + TC-17 + Canon 500D combo is comparable to the Tokina 100mm.
Image color is great, with vivid contrast. I had a few bird shots at fully extended 500mm and they turned out to be great pictures. CA is minimum too, only slightly visible when fully zoomed in, and no worse than my 70-200+1.7 combo. Focus is fast, even though it has always been a challenge for me when shooting sports and moving animals. Build is very solid. It's about the same length as the Nikon 70-200mm VRII without the hood, and about 20% wider. Maybe I am already used to the 70-200mm, this lens is not as heavy as I expected, maybe just a little heavier, and certainly handheldable. The OS certainly helps, and I can shoot handheld 500mm at 1/30sec with good image quality. The OS can be turned to 'off', '1', or '2'. When not shooting at high shutter speed, I used '1' only and I suppose '2' is for shooting from moving car on a bumpy road. I haven't tried manual focus yet. Zoom in and out is a little tight, and that might be the only negative I can find with this lens so far. It's not hard to get used to it, so not a big deal, and you can be sure that lens creeping will never be a problem, even though it still comes with a zoom lock.
Overall, I am extremely happy with this purchase. With an unmatched covering range of 50 to 500mm, it is a great lens for shooting kids sports, which is the main reason I bought this lens. With the high IQ, it's also a great lens for shooting birds. I think it's well worth the money.