Hi noelpolar,
First congrats on obtaining a great lens!! I chose the FA* 300/4.5 for my own reasons (I prefer the hood and also the MF/AF switching on the FA* version + I already had a tripod ring that would work with it),
I think the suggestions for the new Pentax AW 1.3x TC are a bit of overkill for a screw drive lens. As fas as I can tell, the optics aren't vastly superior to the good screw drive 1.4x TCs that have been available for years (Tamron F 1.4x AF PZ MC4, Sigma EX 1.4x APO, both discontinued, or the Vivitar 1.4x which is available new) The only advantage that the Pentax would have is the chip will report the correct FL and Av, which might be important for your use, but this never has been much of a problem for me in practical use. For SR, the difference between 300 and 420 is not that great, and I still can reliably gain about 2 stops of shutter speed for handholding. If they all were the same price, and I had also had an SDM lens that I wanted to use the TC with and retain AF, then it'd be a no brainer, but at $600, and with no SDM long tele lenses, I decided to pass. If I want a 420mm f6.3, I'll use the Tamron or Sigma 1.4x TCs already mentioned and get what I'd expect to be similar performance. Ron (brandrx on DPR) long recognized as the TC guru on that forum, came to the same conclusion after obtaining a 1.4x AW soon after they were released.
Personally, I use my FA* 300/4.5 (essentially the same lens optically as the F*, but with some physical and operational differences) with a Pentax F 1.7x Auto Focusing Adapter as my main birding combination to get a very portable AF 510mm f7.7 for birding. It's very compact and handholdable. At f7.7 max aperture, it sounds like the AF would be sketchy, and it would only AF in bright light, but AF is really not a problem until it gets pretty dim, and available shutter speeds without using pretty high ISO become a more limiting factor than AF performance for me. The reason why AF can work with this combination is that the AFA with a tele lens has a limited focusing range, and the lens needs to be manually prefocused to allow the AFA to take over the focusing chores. The negative is that you need to manually adjust the focus ring if you're shooting at significantly different distances from shot to shot -- a lot of people don't like this.
The positives are that the AFA works as a focus limiter, so in tricky situations where the AF system might want to lock on the wrong thing in the AF sensor's area, I can refocus by slightly shifting the aiming point and rely use AF to refocus quickly without worrying about losing the shot altogether because the AF system decides to do a frustrating and time consuming full lock to lock hunt. The second plus is that AF will lock reliably even with the slow max aperture and relatively low light. The reason it works is that I have to manually prefocus the lens. In low light, the AF system will normally hunt and not achieve lock with most slow lenses, but if one manually prefocuses the lens so it's anywhere near the correct focusing distance, the system usually has no problem acquiring a lock. With the AFA the manual prefocus is part of the process. I actuate AF, then manually focus the lens. When the prefocus is close enough, the AFA takes over automatically, and it achieves a lock so I can take the shot. The prefocus needs to be closer in lower light, but the process remains the same, so although I'm not aware of it, I actually continue the manual focusing until the AF system can take over. I'm sure this sounds more complicated than it actually is. Another positive is that with the AFA, no FL is reported to the camera body, so the body requests a FL be inputted for SR. The setting is assigned to the AFA, so SR assumes the same setting every time the AFA is mounted. If you use it with another lens, then you need to input the correct FL for that lens, but if you use it only with one lens, the correct setting will be remembered.
If you want to shoot subjects that are moving through a wide range of focusing distances, then the AFA will probably disappoint, and a full focusing range TC would be a better choice. From what I've seen, the Promaster 1.7x seems to perform very well optically at the same magnification, but the max aperture might be a limitation in lower light for AF performance. The 1.4x TCs would probably be a better choice for this kind of work anyway.
Optically, I'm very pleased with the performance of the 1.7x AFA. Here are a few examples:
With the K-5, FA* 300 f4.5 + 1.7x AFA. Slightly cropped on the sides and PP'd to taste. This was shot handheld
With the K-5, Canon FD 300 f4L (permanently converted to K mount) + 1.7x AFA. Slightly cropped on the sides and PP'd to taste. This was shot at ISO 1600 in a shaded area -- tripod mounted
Scott