of course. Any F-mount lens is compatible with any Nikon body (this is one of the things Nikon prides itself on, you can take a 30 year old manual focus lens, and it will fit on your brand new DSLR).
As doctorIT said, It'll work. If it is an AF-D lense, it'll communicate with the D70 for EXIF. That said, the D70 comes with an awesome 18-70mm... a cheap variable aperture zoom like that shouldn't sway you one way or another if you're considering which dSLR to buy. (just in case you are, I don't know)
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