Looks wise, I believe the VR II will have GII on the lens, while the VR I will just have G on the lens.
Just bought a 70-200mm f/2.8 VR ll - and yes it works - unless you can hand hold a 200mm lens @1/10th a second! It's fantastic.
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Thanks for that, the markings are subtle so hadn't spotted them.
On the 70-200mm it does have Gll - also the VR is in gold and not red as on the early version.