i wasnt to sure on the AF rewards. i was pretty sure FC was no longer available, but i DID think you could book an all J AF fare as the 80K level as long as it did not involve a CO BF segment or FC on another carrier. again, though, i have no personal experience on that.
anyway, back to topic. VS is great and id book it if i could. and you have to call CO to use CO miles to book VS flights.