I never bought the original 100-400mm simply because I'm not a fan of push/pull zooms. I know some folks really love that design, especially for fast action shooting such as birds in flight or air shows. I just don't care for it, perhaps just because older zooms using that design disappointed me. Some folks seem to agree with me. But others don't. Different strokes...!
I borrowed a friend's first version, push/pull for a short time and liked the "reach", found it very "hand holdable", with good focus performance and decent image quality... but just couldn't get comfortable with it (though it's a far better lens than many earlier push/pull zooms).
The first, push/pull version is one of the five Canon lenses that require you turn off IS when there's no movement for it to correct, such as when locked down on a tripod. If you don't turn it off, the IS can go into sort of a feedback loop where it actually causes image shake blur. Most other and more recent IS lenses auto-detect this condition and turn IS off automatically. (The other four lenses are the EF 28-135mm, original EF 75-300mm which introduced IS, and original 24-105L... all now discontinued.... and the EF 300mm f/4L IS USM that's still in production.)
Not that this mattered very much to me, since that lens (and the four other ones) lends itself to handheld use.... wouldn't be on a tripod very much, if I were using it.
One of the other interesting, but minor foibles of the original push/pull zoom was how it works with filters. Not having used it extensively, I can only repeat that a lot of regular users have reported it tends to go soft when a filter is used on it.... that it's a noticeably sharper lens without any filter. Even good quality, multi-coated UV or clear protection filters seem to make it "go soft".
A couple years ago I bought the II and have continued to be very impressed with it. The IS is the "modern type" and probably about a stop more effective. It's also got the new "instant IS" Mode 3, first seen on the "II" series super telephotos. The 100-400 II is about a half lb. heavier than the original. And it's tripod ring isn't fully removable. But it's also been called "one of the best built zooms ever made" and "over-engineered" for durability. After a lot of use, I've had no problems with it at all.
I've also used it a bit with a quality 1.4X teleconverter (Canon "II") and the combo is excellent, although it's also f/8, so good light is needed.
There's a thorough and honest review of the 100-400L II here:
https://www.the-digital-picture.com/Reviews/Canon-EF-100-400mm-f-4.5-5.6-L-IS-II-USM-Lens.aspxYou can compare image quality yourself at that site too:
https://www.the-digital-picture.com/Reviews/ISO-12233-Sample-Crops.aspx?Lens=972&Camera=453&Sample=0&FLI=4&API=1&LensComp=113&CameraComp=453&SampleComp=0&FLIComp=7&APIComp=0Those test shots pretty much confirm what everyone says.... the II is sharper. There's not a lot of difference at the center of the frame, but the II is sharper in the corners on full frame.... with both lenses wide open. Using either lens on a crop camera shows less difference, since the weakest (though still good) part of the original lens' images are cropped off.
And you can compare the specs of the two lenses closely, here:
https://www.the-digital-picture.com/Reviews/Lens-Specifications.aspx?Lens=972&LensComp=113Some nuances that might not be obvious at first.... The II has more aperture blades and they're curved now. This makes for a little nicer background blur. The odd number of blades also makes for more interesting "sun stars", on the rare occasion you might make one (18 point star versus 8 point).
The 100-400mm II's tripod ring is permanently installed, but its "foot" can be removed. That doesn't save much weight. If you use Arca-Swiss style quick release system, I recommend getting one of the replacement feet for the lens produced by RRS, Kirk, Hejnar Photo, and a few others. The original Canon foot for the lens is cool looking, but has poor anti-twist qualities when it's paired up with a standard Arca lens plate. The replacement feet have the Arca compatible dovetail built right it, plus they can be more securely mounted (with a hex wrench, rather than a thumb screw).
I don't recommend any of the camouflage covers for either 100-400mm. Both lenses are NOT internal zooming, change length when focal length is adjusted, so much of the lens can't be covered. With the two ring version, especially, there are also just too many moving parts along the length of the barrel (zoom ring, focus ring, plus a zoom tension adjuster ring)... the covers are impractical and much of them need to be glued in place. I tried a camo cover on my lens when I got it (I have them on other lenses).... but took it off a short time later when I saw all the "issues".
While it's no slow poke by any means, the 100-400mm II isn't my fastest focusing lens. I have several primes where AF is nearer "instantaneous". It was so long ago that I used the original push/pull I couldn't compare them for focus speed. I'll take the word of other responses here.
If you like the design of the original lens, it's still in good condition, working well and you mostly just hand hold it.... there isn't huge reason to "upgrade".
But if you want a little bit better IS, sharpest possible image from a zoom, closer focusing ability... slightly faster lens (maintains f/5 through approx. 320mm)... or just like a two ring zoom design better.... then maybe the II is for you. It is one of the best telephoto zooms anyone has ever made, IMO.