Make no mistake, this isn't a cheap lens. And there are plenty of sharp lenses that are many times cheaper than this lens. However, there's a reason almost all Nikon pros carry it in their camera bag, and that's because there's not much that this lens can do. I currently only have two lenses (this and a 24-70 f/2.8E VR) and they cover all my needs. I've tried to save money here and there in the past based on things like lab testing (hey, this 24-120 performed just as well as the 24-70 up to 70mm and is half the price). I guess I've lost money since I upgraded anyway. Lab tests say nothing, when I switched the difference was day and night. Okay, it's not about 24-70mm, but they both belong in the same category. One of my biggest needs has to do with complex lighting scenarios, often with sunrise and sunset shots. Limit that to f/2.8 and you can easily focus in all but most dark scenarios without the need for ambient light. Images are sharp from corner to corner. The only complaint I have is that sometimes it can be harder to find compositions that require a 70-200mm lens. That being said, this can be a good choice for "compressing" scenes (e.g. in a forest). Another tip: if you do a lot of tripod work, invest in an aftermarket tripod leg as the Nikon can be a little disappointing. I use the Really Right Stuff version and it fits the ball head perfectly.
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