I'm running both
There are pros and cons to both arcades. With ibproarcade, you need to get used to the idea of making template changes in a php file rather than in a proper template. Once you get your head round that it's reasonably easy to modify.
One thing I did find with ibproarcade is that quite a few of the style variables still show the Invision names, these need to be changed to their vBulletin equivalents or else you get odd breaks in the style, such as black boxes or things showing in the wrong colour.
At the moment there is no legitimate source of games for v3arcade so you take your chance with potentially illegal games. ibproarcade has such a source, this may be a consideration for many.