Gently used. This is not the most recent model that Nikon has on the market. It is the VR, not the VR II.

From Ken Rockwell's site:

If you have $1,650 then this Nikon 70-200 is the best midrange telephoto zoom ever made by Nikon, except that it ws just replaced by the 70-200 VR II.

The only reason not to get this lens is the price, size and weight, all of which are to professional standards. You can get the same superb optical performance in lenses that cost much less, but they won't have VR, or they'll require moving a switch to get to manual focus, or they won't zoom, or they won't autofocus. If you're shooting DX, the 55-200mm DX VR is just about as sharp, but doesn't move as fast or take as much of a beating.

The reason the 70-200mm VR costs ten times what other equally sharp lenses might cost are because the 70-200 VR also offers:

1.) Fast f/2.8 speed for low light, soft backgrounds and action-stopping shutter speeds.

2.) Built tough: all metal except for rubber gaskets and bumpers.

3.) Built to last: many markings are engraved to outlast all of us.

4.) Fast, quiet AF with a silent wave motor. You won't scare sensitive subjects as other AF lenses might.

5.) Instant manual-focus override: just grab the focus ring at any time

6.) Vibration reduction so you can leave the tripod at home.

7.) Three AF-Lock buttons to lock focus when pressed and held. These are extremely handy once you learn to use them.

8.) Better bokeh than most other Nikkor lenses.