The 500 mkII and 600mm mkII are down a few thousand on their RRP too. it's the usual early-adoption markup.
The recent price drops on the big teles is all down to exchange rates, just as the price increases of a few years back was.
I was on the Lenscoat stand at BirdFair and we had a 200-400 as one of our demo lenses. If anything it was a bit smaller and lighter than I was expecting. I really liked the way that the built in tc works. I spoke to a few people over the weekend who own the lens and all seemed very happy with it. If I had the money I would be extremely tempted to get one.