I picked up a used one from ebay for about $400 and couldn't be happier with it. Amazingly sharp, etc. I purchased it basically for indoor sports photography and it has been absolutely great.
This lens is not $1600. I just bought it 2 weeks ago for $900 new at a local camera shop.
I really like this lens. The workmanship and quality are superb. The glass is clear and the pictures are sharp. Its a big heavy lens that is relatively quiet and fast. Probably the best big zoom for Nikon under a grand.
The newest version has a tripod collar (a must) and the zoom and focus controls are larger enough and well positioned.
The only thing bad about the lens is that it does not come with a hood. And the case it comes with pretty much useless, unless your storing the lens on a shelf. If you buy the hood, it will not fit in the case with the lens. However, Lowepro makes a lens case specifically for this lens that will allow you to store it with the hood installed.
I did lots of searches before buying this lens. The only negatives I found are the ones I stated above.