Dunno what all the commotion is about.
For my money, vbportals is the best hack for vbulletin, bar none. Not that there aren't a lot of great hacks for vbulletin - I'm using many of them (stars, community update, etc - trying to get the avatar/catagories hack working now) - but there is no more complete a solution than vbportals. The amount of work that's gone into it is staggering.
If you want to see what a fully tricked out vbportals 3.0 beta (latest release) site can do, look no farther than my own
Maximum Gamer. It's running 3.0 no problems.
That's not to say it didn't take A LOT of work, and help, and my own skull sweat to get it that way

A heck of a lot more than any hack I have found here has taken. So I don't blame wajones for keeping it private testers only right now - the message board would be FLOODED. Heck, you should see all the posts in the contributing-members only forum right now. BradC is right. More of the kinks need to be worked out before it should go wide release......