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Canon EF 24-70mm 2.8L IS USM & EF 70-200mm 2.8L II IS USM

Currently out of the rumour mill is news that Canon will be releasing a new and improved version of the highly coveted EF 70-200mm 2.8L IS USM, and also providing the already very popular EF 24-70mm 2.8L USM with Image Stabilisation.

Whilst there are lots of rumours, these two have to be the most relevant for me and probably quite a large percentage of amateur and pro shooters out there. I purchased the 70-200mm 2.8L IS USM a while back, but relatively speaking, I've had it for a very short time considering the design is almost 8 years old now. Whilst not everyone owns the 2.8 IS version, the release of an update to it will certainly drive the existing price down, opening up new avenues for those who were previously considering the non-IS or f/4 flavours of the 70-200. So whilst Canon delays the announcement of the update to the 70-200mm, everyone will be sitting in limbo, wondering what to do with their money.

On the 24-70mm side of things, the $2,000 (or so) question used to be 24-70 2.8L or 24-105 4L IS? If Canon releases a 24-70 with IS, I expect their 24-105 sales to drop overnight. Those that went the 24-70 2.8L path usually did so because they needed those extra stops. It wasn't hand-hold-ability, at low light levels they needed to be able to stop motion. With the 24-105, IS was forgiving of the slower aperture, but it wasn't a low light lens. It wasn't meant to be. It was low light versus versatility. Stopping motion versus stabilisation. Drop IS into the 24-70 and suddenly the additional 35mm of reach doesn't really count for as much any more, especially if you own any of the 70-200 range.

Whilst Canon is apparently making an announcement for the 70-200 early 2010, I wouldn't hold my breath on IS for the 24-70 until Canon themselves has something more to say.

Update (6/1/10): Canon has released an announcement confirming the release of the EF 70-200mm f/2.8L IS II USM.