Opinions on Nikon 55-200MM F/4-5.6 AF-S VR DX Black Lens?

What do you think of this lens? What purpose would it suit? I have been advised it for an affordable option for event/parties? Also general photography? Any thoughts would be appreciated?

The lens is slow (like almost all consumer zoom lenses), in that its widest aperture is smaller than a professional zoom or prime lens, so it's not a good choice for action photography in lower light conditions (like indoor sports, parties without flash or outside sports at dusk).
http://buycameraphotos.blogspot.com/2010/11/nikon-55-200mm-f4-56-af-s-vr-dx-black.html

It's a decent telephoto (i.e a long lens with lots of reach). I happen to own one and it's a great lens. However, it isn't going to be too useful for events/parties because it's a telephoto with poor minimum focus distance and like almost all consumer zooms, it has a rather slow maximum aperture.

Consider the 35mm f/1.8G if that's what you're going to do. The maximum f/1.8 on that one lets in significantly more light than the f/4 on the 55-200, which is a huge advantage if you shoot indoors as you can use a faster shutter speed to reduce blur.

I would consider it is a good lens
Nikon 55-200MM F/4-5.6 AF-S VR DX Black Lens

High-performance 3.6x zoom lens designed specifically for use with Nikon digital SLR sensors
Vibration Reduction (VR) stabilization system enables more flexible hand-held shooting
Nikon's exclusive SWM (Silent Wave Motor) for fast, precise, and super-quiet autofocus
ED glass and aspherical lens elements minimize chromatic aberration, astigmatism, and other forms of distortion

Nikon 55-200MM F/4-5.6 AF-S VR DX Black Lens, 55-200mm zoon Nikkor lens with f/4-5.6 maximum aperture for Nikon digital SLR cameras
2 extra-low-dispersion (ED) glass elements for minimized chromatic aberration and superior optics
Super-integrated coating minimizes ghosting and flare for more vivid images in dim lighting
Silent Wave Motor produces quick and quiet high-speed autofocusing; weighs 9 ounces
Measures 2.7 inches in diameter and 3.1 inches long; 5-year warranty

It's a decent lens, but it's not really an appropriate lens for for events or parties. It's also a telephoto lens which means it's not really a suitable general purpose lens.

Depending on the event you cover, you will need either the 70-200mm f2.8 or the 24-70mm f2.8. These lenses can be expensive, so you may want to look at the alternatives:

1) Sigma 24-70mm f2.8 IF EX DG HSM. This compliments your 18-55mm lens, it's a general purpose 2.8 zoom, suitable for close-mid range photographs at events.

2) AF-S DX Nikkor 35mm f1.8 G. This is a low light standard prime, mid range poorly lit events.

3) Nikkor 70-300mm f4.5-5.6 G AF-S VR IF-ED. This is the lens that you should get if you want a telephoto zoom, it's a superior lens optically to the 55-200. You could also consider the Tamron SP 70-300mm f4.5-5.6 Di VC USD.

4) The gold standard for events however is the AF-S Nikkor 70-200mm f2.8 VR II, this is a fast 2.8 telephoto zoom with the latest VR technology. It's choice of the pros.