One of the less frequently mentioned benefits to saving up for L lenses is that they all (with very few exceptions) have the same bayonet diameters, meaning you can buy ONE ND filter, ONE circular polarizer, and be set. That's important if you want to buy top-of-the-line B&W filters that can cost hundreds on their own.
I have had nice luck with Sigma lenses, but I would encourage new buyers to physically try the lenses in a store to get a feeling for them and to read reviews pitting them against comparable Canon lenses. My only Sigma lens now is the 105mm macro, which is extremely slow and noisy to focus, but I use it in manual mode 99% of the time and its optics are nearly L quality (it's the previous revision of the lens, which received very nice optics reviews).
I haven't been impressed by the build quality and focusing speed/noise of Tamron lenses, though, so it's a matter of what sacrifices you're willing to withstand for the price break you undoubtedly receive.
The Canon 70-200 f/4L that Chris mentions is a fantastic lens, and now you can also get it with IS. I do own the 100-400 f/4.5-5.6L IS and can vouch for its superb build quality and performance.
Be careful getting into EF-S lenses that will be completely worthless if you upgrade your camera body later to a pro-am model such as the 5D or one of the pro models. There are few demonstrable benefits to EF-S lenses beyond price and I would personally avoid them.