The L, in Canon's 'L'-series lenses, stands for "luxury" and is generally applied to lenses with solid-built and exceptional quality. The Canon 300mm f/4 L ...
This Canon EF 24-70mm f/2.8 L USM lens actually compliments a plethora of other equipment I have for my Canon. The 24-70 L has a magnification of 0.29x at 70mm.