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The D70 is really cool because you can sync it with a flash at any shutter speed; you aren't limited to 1/320th of a second like most cameras (or 1/200, sorry 5DmkII owners). It is a little older, so the high ISO performance won't be as awesome as a newer camera, but it'll still be good. Learn how to use the manual settings, and learn a little about art theory, and you should be good.
correction- you cannot sync at any speed, its all based on what flash you are using, you have to have a nikon flash that is I-TTL or CLS compliant and no off brands will sync at speeds above 1/500s (1/500s normal flash speed is still higher than most cameras) also 5D mkII can do the same exact thing as the d70 except for its normal shutter speed is only 1/200s but with a canon flash that supports their high speed sync it can sync at any speed.
with nikon this is called Auto FP and Canon its call High Speed Sync
Correction- you can sync at any speed with any flash, as long as you use a "dumb" sync- a PC cable or something else with the TTL connections taped over. The camera can't know the flash is there, or you're right- Auto FP would take over. If the camera doesn't know there's a flash on there, however, you can get 1/4000 sync with any flash because of the D70's "electronic shutter" at higher speeds.
Ye I run a D70, I like it, 4 generations old (D70->D80->D90->D7000) But it still works perfectly. When your viewing your pics on the screen its really small so there is a button you can press to zoom in. Also get a 50mm lens, best and imo the most necessary f1.8 = seks for sports and whatnot, lemme know if you have any other questions. And yea shooting on high iso is a joke, torrent noise ninga
I have one, and it's pretty good! One thing, I noticed was that the CMS sensor heats up pretty badly on long exposures, and like someone mentioned before, the low ISO range can be semi annoying in low light.
Other than that, you can use any Nikon lens, new or old, doesn't have to be a DX format to fit, which is great if you can find an older lens for cheap!
70-300 is a must have for action sports, but you might also want to get something wider for standard photography/more versatility. the 18-55 range is more practical for shooting things that are closer to you.