nope. 50mm is 50mm is 50mm, same with 70-300, its still a 70-300...regardless of what body it is used on
the whole mm conversion stuff is not accurate, nor useful, for much except in comparing the field of view (only the field of view, it does not change the actual focal length whatsoever) between a full frame FX sensor, and a APS-C DX sensor, in fact the whole "1.5x conversion factor" becomes simply wrong when you start getting into varied and equivalent pixel densities. So unless you're in a situation where you've got both an FX and DX body with the correct pixel densities, you're trying to figure out what lens to use on each to have equivalent field of views, its not helping you in any way. ALL lenses are sold, marked, and marketed as their real true focal lengths*, which is a physical property of the lens and completely independent of whatever sensor it is used on. a "DX" lens simply has a smaller image circle that it projects, so it will not cover an FX frame, its not actually a different zoom length as a non-DX lens with the same focal length.
so do not get bogged down in the whole conversion factor stuff, in fact just forget it altogether...focal length is focal length, you have a 17-50, if you get the 70-300, you'll also have a 70-300...its really as simple as that...if you happen to be shooting next to a FX body user and you want to compare images, or you happen to get a second body which is an FX body, then yeah, some sort of conversion factor would be useful depending on the situation, but in the meantime, just ignore it all. if X focal length works to get the picture you want, who cares what a similar field of view would be on a different body. go out and shoot and be happy.
*manufacturing tolerances and other miniscule anomalies aside...I know someone is going to come along and shout "but 300mm might actually be 298mm!!!!! and what about focus breathing!! OMG!"...I'm not worrying about that stuff to keep things simple.