You will absolutely earn OnePass miles for Continental flights booked through Continental Vacations. If the hotel or car rental company participates in OnePass, you can earn miles from them as well.
I have booked several vacations through Continental Vacations without incident. These have included hotels, rental cars, and flights. In each case, it was a relative bargain, and I didn't have any problems.
Continental Vacations isn't entirely flexible: sometimes it won't allow first class/BusinessFirst tickets, sometimes a preferred hotel won't be available through Continental Vacations, but sometimes it's a good bargain.
The booking engine is very simple to use, and offers reasonable flexibility.