Personally I wouldn't want to rely on telephoto lenses. They feel kind of disconnected with the subject and are more creepy than using a short focal lense.
Yes, but its nice not having blood on your camera and wondering where the battery and door that used to hold it in went. I think 85mm is the perfect street photography lens. Or a 35 pancake for discreet, or a 24-70 or 24-105 if you don't like changing lenses. 70-200 is just too heavy.
Not what most people think of as telephoto. 24-70/24-105 are standard full-frame kit lengths.
I returned a 70-200 after trying to lug it around for 4 hours. It's just too tiring and too silly for general use, and it's certainly not inconspicuous if you're going to be in public.
I have a 24-105 f/4L that I use for day time and a 35 f/1.4L that I like to use at night. I do own a few other lenses but the two mentioned make up 99% of my usage.
Each to their own! I love my 70-200 f/2.8, and it is pretty much my every-day lens. Sure it is heavier than I'd prefer, but damn it makes beautiful images.