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http://www.sigma-photo.co.jp/english/news/090904_70-300_4-56_dg_os.htm
SIGMA 70-300mm F4-5.6 DG OS

The Sigma Corporation is pleased to announce the new 70-300mm F4-5.6 DG OS. This telephoto zoom lens incorporates Sigma's original OS (Optical Stabilizer) function and is housed in a compact construction. The OS function offers the use of shutter speeds approximately 4 stops slower than would otherwise be possible. It makes telephoto shooting easy for many types of photography such as sport and nature. For Sony and Pentax mount, the built-in OS function of this lens can be used even if the camera body is equipped with an anti-shake function. As compensation for camera shake is visible in the view finder, the photographer can easily check for accurate focus and ensure there is no subject movement. The SLD (Special Low Dispersion) glass element provides excellent correction for all type of aberrations. The Super Multi-Layer Coating reduces flare and ghosting and provides high contrast images throughout the focal range. The lens has an overall length of 126.5mm (5.0”), maximum diameter of 76.5mm (3.0”) and weight of just 610g. Its compact construction makes it convenient for travel and hand held telephoto photography. This lens' rounded 9 blade diaphragm creates an attractive blur to the out of focus areas of the photograph. This lens has a minimum focusing distance of 150cm (59.1”) throughout the entire zoom range and a maximum magnification ratio of 1:3.9, making it ideal for close-up photography.[/url]

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Olympus E-520, Zuiko Digital 14-54mm f/2.8-3.5 (old)

A quick observation - it seems Sigma are moving to having the same basic lens on all mounts, e.g. keeping OS even on systems with body stabilisation.

Reading between the lines, I think they've ditched screw drive too so no more worries about stripped gears!

On the lens itself, I wonder what its relative performance is, compared to their existing APO version, and the big brands premium models. I do note the lack of HSM suggesting it may be lower than higher positioned.

Again comparing with the existing version, I note the maximum magnification is now half of the old lens so may be not so great for near macro type shots.

Edit: The SRP is close enough £400, although street prices should be below that. Still, it seems rather too close to the Canon 70-300 IS USM to be interesting there for example. Comparing MTF charts it seems the old APO lens has slightly better center performance than the new OS version.

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Canon DSLRs: 7D, 5D2, 1D, 600D, 450D full spectrum, 300D IR mod
Lenses: EF 35/2, 50/1.8, 85/1.8, 135/2+SF, 28-80 V, 70-300L, 100-400L, TS-E 24/3.5L, MP-E 65, EF-S 15-85 IS
3rd party: Zeiss 2/50 makro, Samyang 8mm fisheye, Sigma 150 macro, 120-300 f/2.8 OS, Celestron 1325/13
Tinies: Sony HX9V.

is OS the same as Nikon VR?

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Amateur, always learning!

My website:- www.neildavison.co.uk

Indeed it is, and it is the same as Canons IS.

This lens seems like a good alternative to the 70-300 APO, which was kind of useless in lower-light situations, but if the price is that high, you might be better off with a first-party lens.

Then again, Sigma hás surprised us a couple of times with the performance of their glass..

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I take pictures so quickly, my highschool was "Continuous High".

My last contact with Sigma OS was with a brand new Sigma 120-400. It was disappointing and yielded a max of 1 stop efficiency. This is far form the results a Canon IS or Nikon VR can achieve.
The reduced magnification is an indicator of a change in lens-design. So, don't assume that this new lens performs at least equal to the "old" APO design. If you want to have lens-based stabilization you have to change your lens-design and live with some restrictions that may make it harder to achieve a certain IQ-level
I'm not dissing this lens prematurely, all I'm saying is: You better wait for a reliable test before you get your hopes too high!

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Thomas (beware: Nikon-fanboy and moderator!) My Lens Reviews, My Pictures, My Photography Blog
D800+assorted lenses

If you look at the lens internal drawing for the OS, it is quite a different layout than the old non-OS models. Going by the MTF charts, it seems somewhere between the two old models.

On OS, it can and does vary with the design age. The recent Tamron 18-270 VC is much stronger than the IS in the Canon 100-400L for example. More modern Canon lenses have more effective systems now.

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Canon DSLRs: 7D, 5D2, 1D, 600D, 450D full spectrum, 300D IR mod
Lenses: EF 35/2, 50/1.8, 85/1.8, 135/2+SF, 28-80 V, 70-300L, 100-400L, TS-E 24/3.5L, MP-E 65, EF-S 15-85 IS
3rd party: Zeiss 2/50 makro, Samyang 8mm fisheye, Sigma 150 macro, 120-300 f/2.8 OS, Celestron 1325/13
Tinies: Sony HX9V.