Did we forget what this post was about? A man who wanted to buy a VAFC. Therefore i will say this, the VAFC's main function is for tuning of the A/F ratio. with the added bonus of dropping the VTEC engagement point. Personally I have mine set at 3200 rpm but my motor is built as well as bolt ons to high heaven. Also you failed to mention that the lowest VTEC engagement point that can be set on the VAFC or VAFC II is 3000 rpm.
Personally i would go with a VAFC II because the amount of tuning that can be done is alot more. Every 200 rpm vs. 500 rpm and 12 pt instead of 8 point. Oh yeah the password function and I think there is a light when VTEC engages!