I need a zoom lens for my Nikon D60 that will work with Action Photography?

Ok so I used to have a 55-200mm zoom lens which broke so I'm looking to upgrade. I have a Nikon D60 and was thinking about 70-300mm? Would that be good for sports? Specifically far away shots of fast moving racing boats?
Also I found this lens online… Is this a good deaL? Will it autofocus on my D60?
I'm not sure what all of the letter combinations mean. I mean VR is Vibration Reduction but thats about it ( AF-S VR Zoom-NIKKOR 70-300mm f/4.5-5.6G IF-ED).
Thanks everyone!

http://www.lenscabin.com/nikon-70-300-p/313464129.htm?CartID=1

That lens has a very good reputation. The price looks too good to be true.
As seen at
http://www.networksolutions.com/whois-search/lenscabin.com
the domain was created 07-Jan-12 and hides behind a privacy protection service.
They have a record with BBB. Their rating is F.
http://www.bbb.org/new-york-city/business-reviews/video-equipment-supplies-and-parts/lens-cabin-in-new-york-ny-135092

The Nikon 70-300mm AF-S VR could be a very good choice for you, but don't buy it from a vendor that lacks a BBB record or has less than an A+ rating.

The best zoom lenses for sports are fast lenses which have a maximum aperture of f/2.8.

Unfortunately they are very expensive.

Going from your 55-200mm to a 70-300mm f/4.5-5.6 will not get you any faster of a lens. Sports performance-wise, it will not be any better than your 55-200. The 300mm end will get you a bit closer, but that is about it.

VR will not really help in this situation as with a sports lens, you want to maintain a fast shutter speed, and VR doesn't really do much for faster shutter speeds.

However, even with a less than f/2.8 lens, you should still be able to get some good photos, but you will want to jack up your ISO to maybe around 600 so you can maintain a fast shutter speed, which is what is going to be the most important.

I have shot racing boats and air shows, and I use a 80-400mm f/4~5.6 and a 80-200mm f/2.8. While I use the f/2.8 when I can, sometimes I need the extra reach of the 400mm lens. While the 400mm lens is not the best - sometimes it is the only choice.

But at any rate, I use a shutter speed of around 1/1250 sec and an iso of 640.

Be careful though with the ISO. Your camera is an older one, so it may start to exhibit noise when you go even to that fast of an ISO. It is all in trying different things and seeing what works the best.

I shot this photo a few years ago with a Nikon D70 and a Nikkor AF-D 70-300mm f/4-5.6 at 300mm. While I was pretty close (I was in a boat just outside of the race course - maybe 200ft) the 300mm may not be adequate if you have to be on shore.

I used 300mm, ISO 400 and 1/1250sec for the shutter speed. So it can be done under the right conditions.

Any lens will do for action as long as you know how to use it. With some distance between you and your subject, get at least a 300mm. Getting a great shot will now depend more on your skill. Taking a picture of a fast moving boat zigzagging it's way through the water is difficult especially if you don't know how to track your target and anticipate.