It's not really that it's not "compatible", it just isn't possible to convert IPB passwords to vB passwords due to the complex way IPB encrypts their passwords. It's a matter of IPB passwords being hashed and then salted on top of that, if that makes any sense, and there really isn't any way to decode it.
I was in your exact same shoes one month ago and unfortunately there is no way around it...What I had to do is send out a mass email to everybody with the Lost Password link in it so that they could reset their passwords that way...it sucks, yes, but you have no other option.
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