Hi Morgan
In anticipation of the Nikon D3x (or whatever name) I'm actually considering selling my 2,8/70-200mm VR!
Most Nikon shooters love that lens, it has served me extremely well for many years, including using it with the TC 1,7x!
BUT I have found that while it's been great on the D2X (and still is on the D300), it's not completely satisfactory on the D3 (which I love - have sold my D2X).
Sharpness decreases towards the edges and there's quite strong vignetting (at f2,8, f4 and even f5,6 - can be dealt with in post processing though).
I'm absolutely sure it will not be up to it's reputation on a future full frame Nikon with higher pixel density (eg with a variant of Sonys 25MP chip).
So I actually tried the 70-300mm VR and have found it to be equal or better than the 70-200! Of course it's build quality and focussing speed is not up to the 70-200, and it's much slower (f5,6 at 300mm), but that extra reach is very welcome on the D3, it's much lighter, and I find the VRII a definite improvement over the older VRI (in the 70-200): VRII is more effective and results are generally better. Sometimes I get unsharp results in series shot with the 70-200 with VR turned on, even at short shutter speeds, they disapear with VR turned off.
So I actually ended up buying the 70-300mm as a solution in the meantime, until the rumoured new 70-200mm (with VRII!) will be available, as well as an updated 80-400mm AF-S VRII.....
Nikon shooters might find these findings surprising, but I have confirmed this behavior with three different samples and on several bodies.
Hope that helps!