#3. "RE: best way to shoot action shots" In response to Reply # 2
Hmm. The 30-110 is certainly more versatile for action pictures of events not up close like football, soccer, and the like. The 10-30 is something I'd use for basketball or sports where I'm relatively close. The problem with these lenses is that they are very slow. What that means is that they don't gather much light and can make it very hard to freeze motion. To compensate you have to raise ISO.
With that said I would recommend a high ISO where your shutter speed is 1/250 or faster. I'd use aperture priority or shutter priority mode to use it. Practicing panning and prefocusing will help. Check out Scott Kelby's Digital Photography book series for some settings and ideas. But also keep a realistic expectation. Except in bright light it will be hard to get freeze frame shots.
#6. "RE: best way to shoot action shots" In response to Reply # 5
Glad you could! The FT1 adapter plus a faster lens can also work wonders with the Nikon 1 series and action. And get you cool shots that might have been very difficult otherwise. Just another thing to think of.