Here are some positive and negative opinions I have regarding this lens...
-BUDGET LENS! Only about $140 USD new!
-Excellent Zoom Range
-Better optics than a comparable Quantaray 70-300mm
-Full Frame Compatible... works GREAT on my N75 film!
-Sharp results with great color
-Plasticy Body, feels kinda cheap
-Needs lots of light to shoot in because...
A) slow aperature
B) no VR
C) very bouncy beyond 200mm w/o tripod
-Pretty bad color fringing after 200mm
-Stupidly slow and loud autofocus (granted, it is accurate)
-Wont work on D40/D40x/D60
Go for the ED version if you've got a bit more cash, it'll help cure the color fringing issue. But for not much more, go for the AF-S VR version... you'll get ED glass, a better focusing motor (with manual override), and vibration reduction.
...Unless you're fortunate enough to go for a 70-200 f2.8 VR. Of course, that's a BEAST, but sooooooo glorious.