Meh.
Guy at the track ran a 17.4 as his best time with a 5 speed 94 accord EX (VTEC). I ran a 17.7 best time with an automatic '97 SE (no-vtec).
Both are slow.
It's mainly to keep the engine's power curve smooth. (although you'd only notice it back to back). I don't believe there is a mileage issue between the two (i think the non-vtecs get, maybe, 1 more mpg then the vtecs).