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Totally depends on what you shoot more often: low light or more reach?
200/1.8 (I own two):
- it's f/1.8 - 1.3 stops faster than 2.8
- with 1.4, its a 280/2.5 and still great IQ
- with 2.0x, its a 400/3.5 that will do in a pinch.
- at f/1.8, the bokeh is virtually unmatched in the telephoto range.
- very fast focusing
- with 1.4x, becomes 420/4
- with 2x, becomes 600/5.6
So the 200 can go longer - but not as long as the 300.
But the 300 will never go shorter, nor can you get more light than at 2.8.
Both premium lenses, well worth the investment for the range they cover.
Those are my thoughts.