In the $500-700 price range that those 2 lenses occupy, why not also consider the Canon 70-200mm f/4 L USM? Image quality is excellent at any aperture (including wide open), build quality is excellent (it's an L lens, after all), it's got a fast ring-type ultrasonic motor, and the price is right between the $500 of the Canon and $700 of the Sigma.
The Canon 70-200L f/4L is also much sharper than the Sigma once you put a teleconverter on the latter (which is necessary to reach 200mm with the Sigma). The image quality comparisons posted at the-digital-picture.com say it all...the Canon totally destroys the Sigma at the longer ends of their respective zoom ranges.
Also, the sample shots of the second Sigma sample are quite bad. You have to be lucky and get a good sample in order to get good image quality. Sigma makes some great lenses (I use one myself with my 40D), but if the choice was Sigma or Canon L lens, then I'd choose the latter in every case.
Also, I wouldn't bother with the 70-300mm IS when you can get a 70-200mm f/4L for just $100 more new, or the same price if you get a mint used example of the 70-200.