Extension Tube Compatibility with 70-300 IS and EF-S 60 Canon Lenses???

Will the Canon extension tube EF 25 II work with the Canon 70-300 f/4-5.6 IS and Canon EF-S 60 f/2.8 macro lenses?

Will it degrade image quality at all and finally, how much closer can you focus with the above lenses?

Thanks A Lot,

Caleb