Our LDAP tree does not include an MD5 password hash field - or at least not one that is viewable with an anonymous bind. So I simply modified the IF that does the password hash comparison with an IF that does a bind with the user's name and password.
PHP Code:
// if($info[0]["$ldapfield"][0] == $_POST[vb_login_md5password])
if (@ldap_bind($ds, $info[0]["dn"][0], $vbulletin->GPC['vb_login_password']))
It works like a champ.