JC, I've owned the 170-500mm lens for some time - never heard about different versions and as to value, I've seen 'em on eBay once in a while, but none for Pentax for a while. Good condition C/N versions seem to be in the $500 range.
I'm "relatively" happy with mine - but that's only because I haven't been able to use it much, so I don't have any good comparisons between it and other lenses I have. One of these days the SO will give me a break on the ol' honey due list and I can spend some quality time with it!!