This is at least the seventh f/2.8 telephoto lens that Nikon have made in this focal length range. All of its predecessors are universally regarded as being sharp, quality designs. The complicated nomenclature reveals that Nikon have thrown their entire bag of technological jiggery-pokery into this one, and the result is a big, long, heavy lens; but it works. This is one of Nikon's sharpest lenses - on DX bodies at least (some reviewers have noticed a lack of sharpness towards the edges of the frame on FX bodies) - and the AF-S system works just as fast and as quietly on this lens as it does on any other. The VR system also allows you to hand-hold the lens at speeds that would otherwise be unthinkable.
It's also worth noting that the bokeh (the visual quality of out of focus areas) produced by this lens is very pleasing. With VR on, this lens may rank right up there with the classic Nikon bokeh champions such as the 85mm f/1.4. If you're looking for a portrait lens that captures your subject sharply and produces no distractions in an out-of-focus background, look no further.
This lens can be used very well with Nikon Teleconverters. The TC-14E makes it a 100-280mm f/4 zoom; the TC-17E makes it a 120-340mm f/5-ish zoom; and the TC-20E makes it a 140-400mm f/5.6 zoom. With any Teleconverter, the lens will still autofocus on all AF-S compatible cameras.