I've been to both Yangon and Phnom Penh in the last year, and enjoyed both. It's been 10 years since I've been to Vientienne. It was so slow and sleepy I can't recommend it - but that might not represent today's realities.
I enjoyed both Yangon and Phnom Penh very much. There's lots to see and do. more in Phnom Penh in my opinion especially if you are willing to see the markers to the atrocities of the Pol Pot regime. If you are a shopper, there are great local things to be had in the Central Market in Yangoon, more so than we found in Phnom Penh this year.
Be aware that Yangoon is cash only. You need crisp dollars or euros for everything, including hotels. There are no ATMS nor any credit card terminals. Depending on where you live, that could add a layer of complexity.
Here's a current trip report on Yangon:
http://www.flyertalk.com/forum/trip-...y-sin-rgn.html