I own the same 70-200 lens as well as the 1.4 and 2x III extenders, and used them on my 7D and now sold 5DII. The 1.4 gives very sharp images at F/4 and even sharper images at F/5.6. The 2x gives very usable images as long as the subject you are focusing on occupies a good amount of the frame. The 2x really surprised me on the amount of detail in the image when you zoomed in to your subject on the 5DII, way better fine detail than you would see on the 7D. To me, if you buy them at the right time, you can get both for $900, and i feel each has a place and time where they will be useful. I would honestly recommend both, but the 1.4's strong point is slightly better IQ, and the 2's strong point is basically the noticeably longer reach with good IQ.