Thanks for the thoughtful review, mp.... I've been doing the same thing by getting to know VG before issuing my verdict and posting a review, which will be coming soon. I don't reach quite the same conclusion, but nor am I overwhelmingly pleased with it, either - but for entirely different reasons. I end up liking it, but not enough to want to buy a bottle or even replenish my 15ml when it's done.
I will discuss this in my review, but this may be one of those oddball cases where a fragrance is hampered by it's name. There is an expectation with the word 'vanilla' in the title that is unfulfilled, and I predict people will not be as patient as MP in getting to know the fragrance before trashing it for not competing with SDV and the like. Hermes would have been better off giving it a floral-related title.