If you are looking for an old school game, this an an excellent one to start with. I found V&V a good read, and I always enjoyed the artwork, but I honestly never really found it to be much of a playable game.
Back in the (very) early 80's, several of us had gotten tired of playing nothing but “that Fantasy RPG.” My roommate was big into comic books, and found a copy of V&V, so we thought we would try it out with our gaming group. First, we did a little play-testing, to make sure we understood the rules and such. We quickly realized that it needed a bit of a rewrite to be a good playable system. My memory is a bit fuzzy now, but I know our greatest dislike, by far, was character generation.
First, the character is based on the player. Your stat's are the characters stats. In general, most people think they are better than they really are, compared to others impressions. This can lead to conflict and opinions better kept to oneself. This is an unnecessary complication when you simply want to escape the real world and have some fun. Next, you use random rolls for your characters powers. Anyone who is a fan of comic superheroes knows that most characters have a set of cohesive powers based on a theme or shtick. Random rolls result in characters that have random powers, which are hard to pull together in any kind of theme, and sometimes end conflict with each other, or are downright silly. Same goes for Skills and Weaknesses, though kudos for including Weaknesses ... something especially good in a superhero game.
Bottom line, if you like playing a character based on you, after throwing a bunch of dice, hoping to get lucky with them, then playing the random conglomerate you come up with, this game is for you. That’s not sarcasm … I know people who like the throwing the dice and playing what they get. If you prefer to escape the real world and play a character that makes sense (tongue in cheek, as this IS a superhero game), then V&V is a pretty weak game system.
As for the rest of the rules, they left little impression on me, other than being no better or worse than other games at the time. Before we could rewrite it to our satisfaction and bring in the whole gaming group, one of the guys found a copy of Champions, and that's the game we fell in love with, and played superheroes with for many years.
Still, I always enjoyed FGU’s V&V material, and collected almost all of the adventures (missing one) ... most of which can be found in PDF form here. They are very much worth checking out even if you prefer a different rules system.
In conclusion, if you are into old school games, this is still one you will want. Note: this is a scan, but you can search for or copy text.