I have both.
The 300 F4 is a superb lens, and still very good with the 1.4x converter.
However with the 1.4 attached af performance takes a definite hit - slows down quite a bit.
I picked up a 400 F5.6 specifically for birding where there is plenty of light and for birds in flight. So far, very impressed with that.
For the UK I think the 300 F4 makes more sense - the IS and F4 are very handy considering our murky winters. If I had to move one of the two lenses on I would be keeping the 300mm