Warren.... good explanation. Thanks....
but as a follow on, is it worth the money for the F4 ? (I guess that's relative though to what you use it for, your budget, etc...)
That's a difficult question to answer. The f/4 goes for somewhere around $9000. So, unless you've got a spare $9000 burning a hole in your pocket or if you're going to be making some $$ with this lens, it may or may not be worth it.
This is a lens that is probably used to shoot sports and wild life photography, amongst other things. Given that it is f/4 it gives you a good chance of using a higher shutter speed to freeze the action from far away. Being a strong telephoto, you're relying on lighting other than from your camera, so having an additional 3 stops is a huge advantage. Not to mention that it is probably somewhat sharper given that it is a prime with much fewer elements than the 70-300mm zoom with TC.
Anyhow, I would suspect that unless you're a pro shooting for money, it's not likely a lens a typical amateur would own....