Also, does vB contain subforums? --- Yes it sure does
can subforums get individual templates? -- You can assign styles to certain forums on your site, as for templates, that might require some hacking to be done.
can you have super moderators or other levels of moderators? Sure you can make your own user groups, set how many posts too get into them, if any, and what actions they can do
Can users set their own posts per page and threads per page? -- How do you mean?
Can features be disabled? (like the calender and others that might not be needed) -- You can simply remove the link to the calendar from the header template (its a template that holds the logo and buttons) Most features especially with the release of the new vB board RC1 which was released today, pretty much every option has a on and off switch
Is vBulletin avaliable in other languages, like danish...and can you set a default language and allow users to switch between them in your profile? -- There are language packs available at vbulletin.com and here at vbulletin.org. I believe the user can select their language, i am not 100% sure however as i have never had the need for multi languages
If I purchased the full version would support be avaliable to convert "non-traditional" PHPbb data, ie. data that has been modded to for instance PHPbb subforums? -- Hmm i think there would be support given to move over your threads and posts and members and catagorys etc.