I have a VR-1 70-200...bought it the very week they were introduced, almost by pure accident. My local store got three of them in...once I felt the lens, I had to own it; the build quality at that time felt very "different" from other Nikkors that had come before it. The 70-200 VR-1 has a very,very slender barrel compared to any other 70-200 or 80-200 on the market, and it is quite honestly, the absolutely best-handling lens of its type made, and I've owned five different f/2.8 80--200 or 70-200 from Nikon and Canon, and have shot the Canon 70-200 f/4 old and new IS models. The VR-1 is simply not the fat-barreled pig that others of its speed are. it has extremely rapid autofocusing, and the cool AF-lock buttons on the barrel. It has very,very lovely bokeh rendering; it is a lovely lens for portraiture, a softer background rendering than newer lenses like the Tamron VC 2.8, which is harder, harsher. On APS-C, it is sharp, but it does NOT cover FX Nikon corners at wide f/stops with adequate sharpness, even stopped down to f/6.3 you can see that the corners are NOT 100% up to snuff...it was designed for DX Nikon, to be very sharp across a the central image circle.
The new 70-200 f/4 VR model probably does really have better optical performance than the now almost 15 year-old VR-1 model, and it has light weight and a nice skinny barrel. I personally think the f/4 lens would be the better lens to migrate forward to, especially if you go to FX Nikon and a high-MPO camera that has 36 million or more pixels. Thom Hogan's site has some comments on the various options in his review of the older 80-200 f/2.8 AF-D. I believe he gives the new f/4 VR-G model the nod for high-rez camera and for FX camera use, over the old VR-1 f/2.8 model.
The VR-1 f/2.8 lens feels and handles a lot like and f/4 lens does; the realllly slender barrel it has makes it feel very nimble, and it just does NOT have that "fat stovepipe" feel or look that every other f/2.8 lens has.