Canon has announced the Canon EF 70-200mm f/2.8L IS II USM lens, which replaces the Canon EF 70-200mm f/2.8L IS USM.

More details here:

http://www.dpreview.com/news/1001/10...n70200isii.asp

This is sure to come as welcome news to many.

I personally have no plans to upgrade my existing 70-200/2.8L IS, but this new lens looks very promising, with five ultra-low-dispersion elements.