My money is on the Sigma tbh, even though I own the 75-300 IS.
I'm seriously wanting a lens with true Macro ability so i'm going to go with a dedicated lens at a latter date.
The optics in the canon lens your considering are the same as in the IS verison iirc, and i've found the images to soften at lengths above 200mm
Longer than 200mm and you'll notice similar and a degree of camera shake i think unless your well supported which is where the IS really comes into it's own.
in time i'll be moving away from the 75-300 in favour of either a 100-400 L or the 70-200 f 2.8 L IS
The USM motor on the canon as mentioned isn't the preffered ring type and in lowish light it tends to hunt round a bit.
Might I suggest you meet with Digital S.P.G one day and ask if you my try his sigma out?
Also, before you commit to paying for a lens, my local shop allows me to try the product. I would suggest you take several shots of the same subject at different focal lengths, on both lenses and then print or compare both.