Originally posted by Driline I'm assuming the IQ of the Pentax or Sigma will be better?
It depends on what you need to do with the image. If your goal is simply to show shots on a website, then the differences may not be all that significant. If you are shooting a predictable object such as a train that regularly passes by on the same set of tracks, then you can prefocus quite well with your manual lens and obtain a good shot. If you want to capture more erratic things like action sports and birds in flight (smaller than herons which are very easy to capture with a little practice), then you will need both a camera body with predictive AF capabilities and a lens that mates well with it.
I'd suggest you rent a Pentax 300mm f4 for a few days, and then rent the latest version of the Bigma (50-500mm). That will give you a low risk way of assessing how well your skills, tools, and objectives fit coherently.
I owned the Sigma 100-300mm f4 and used it with a K-3. I no longer own either as I was disappointed with both tools for telephoto work. A len's value is relative to the platform choices, while the Sigma is highly valued in the Pentax universe, it is not as esteemed in the Canon world where I now reside. I found the image quality to be OK but not as good as my 100-400mm f4.5-5.6 L lens. The old-style screwy focusing was too noisy for birds and slow compared with what I know. More frustrating was that the K-3's pretty good AF system was being held back by aging technology that I believe was not in the camera target design requirements. Perhaps after you rent a few lenses, Pentax may finally come out with a tele-zoom that adds the value to the K-3 that the camera deserves. I also own the Tamron 150-600mm f6.3 for EOS (itself imperfect, but really good for more static shots) and it is a shame that it is not out for K-mount.
Getting into long telephoto lenses is a commitment of time and money (and energy because the things weigh a fair amount), and it helps to have a clear sense of your shooting objectives. That may mean losing any religious sense of brand loyalty. The gentleman above listed Nikon as an option, and I would add Canon to that list. There are just a lot more choices and better quality ones at that. Contrary to some popular opinions here, the cost of getting good-to-high quality telephoto lenses (and the bodies that work with them) is notably less when you look beyond the Pentax neighborhood.
Hope this helps.
M