I too have both, although I'd forgotten it until I read this thread

!
After buying the 55-200 VR and trying it on my D40, I was so disappointed with it that I just put it back in it's bag and tried to forget about the money I'd wasted on it. I found that it couldn't AF at all well, even on a bright (but overcast) afternoon and that the pictures were all soft (or maybe the subjects were OOF
and soft :shrug

. Perhaps I just have a bad one!?
The 70-300VR isn't my favourite lens in the world either (feels a bit too big on my D40 and a bit too 'cheap' on my D700

), but it
can give some very good results, IME. The main problem (which it shares with the 55-200 VR), is that it struggles to focus in low light and additionally it really
is (as most people report) pretty soft once it goes much over the 200mm focal length. I've got no really sharp shots over 240mm, even when testing it on a tripod in good light.
At 220mm and under, though, and in good to 'normal' daylight conditions, it really works well

. The VR is perhaps more necessary on this longer lens (than on the stubby 55-200) and seems to work well without taking away much of the sharpness. I reckon that it would work well for sports, airshows and any daytime situation where you're separated from your subject by some distance. What it doesn't do well (and what I really bought mine for) is wildlife shots in dim, forest light - the available shutter speeds are just too slow (+1/15th sec.) to get truly blur-free shots, be it due to camera shake and/or subject movement. I really need to ratchet up the ISO to bring down the shutter times, but as the lens can't always focus itself accuratley (on distant, tiny birds), even this isn't much help!?
(Shallow) DOF is another area where is loses points over the "big boys" (the 80-200 and 70-200 f/2.8), but that's only to be expected with it's spec and price point.
Price-wise, I actually felt that it was a little over-priced when I bought mine under a year ago (for less than 310 quid), but now, when you compare even it's new price against the 1,850+ required for the latest 70-200mm VR lens, it doesn't seem so bad :|.
Just my $0.02.