Instead of creating a special vb hack for guestbook, I think it would be much easier to apply a free guestbook script to your site and if necessary make some modifications in that script to integrate it to vb. Writing a guestbook script is not an easy one, I wrote it one, I know.
Frankly I dont get point of integrating it to vb anyway. Wouldnt be nice that your non-vb visitors of your site can make comments in your guestbook too?

If you want only members to post, I believe you dont need a guestbook: Just create a special forum or thread named "Guestbook" or "Site Feedback" and your members can already post there.
My 2 cents, thanks for bearing me..
Regards,
Logician
Ps. Regarding replying to old threads: Not because it's my hack, but I really believe the hack "blink date if message is old" is very simple yet useful hack. It successfuly gets the viewer attention and she will notice if she is replying a very old thread prior to clicking REPLY.