The VPC as a tuning tool was/is well ahead of it's time. It works better on some cars than others, but is still good. As mentioned most of the problems people complain about with the VPC have little to do with the actual unit. HKS never designed a chip over 550 cc's,and the GCC is limited in it's adjustment range, but that can be compensated by using the SAFC.
I ordered my VPC with a 550 chip from directly from HKS and had both 550's and 720's on the car along with a GCC at various times. It was only until I put HKS 272 degree cams in the car did it start hunting at idle. After pulling the chip I realized that the chip was for the stock 450 cc injectors. For 3+ years the car ran and idled well with the wrong chip and bigger injectors and a unmolested factory ECU. The only reason I switched to my current AEM set up was because I didn't want another piggyback in my glove box, I got a great price on it and as Nate said, if the MAF is gone it's hard to go back to using MAF based system.
There are quite a few cars that made big HP numbers and set records using the VPC, and their are still Supra's making over 1000 HP using them.
Daryl