I recently purchased the Nikon 300 2.8 VR because I got an excellent price on it that was about 1800 under what I would have paid for the VRII, it fits my needs for a tennis optic perfectly, with and without a 1.4 extender, and I want to better use the difference to save up for a 500 mm lens. Ken didn't really address the issue of using converters with the two lenses, but I am advised by a friend that if you compare usage of the two 300's with a Nikon 2x extender, that is where you will see an improvement with VRII. Perhaps others can speak to the issue of performance with doublers. A lot depends on how much you will use this lens, for what purposes, whether you will use the 2x extender, and how much money you have for this particular issue. I don't think you can go wrong either way. Good luck!