Absolutely excellent condition. The glass is clean and clear with no damage on either element. The body is free of scratches, dings, or paint chipping. The buttons and rings are in excellent mechanical condition. The AF is fast and accurate, and tracking is good in video mode. The only things apparently wrong with it is some minor paint loss on the tripod shoe (a known defect for this model and pretty much unavoidable) and the tripod collar foam has become depressed so the lens may rotate unintentionally. Very easily and cheaply fixed with a foam shim, thin tape, or any other material to add thickness to the foam. I believe you'd be hard pressed to find a used lens in better condition.
I wouldn't even sell if if not for the fact that I have the 70-200 f2.8 GM2. This was a backup that never left my Ruggard dry cabinet in 2 years, however it has been function tested as of today and it works flawlessly.
** DISCOUNT FOR LOCAL PICKUP **