The gate agent I spoke with at LAS this morning, where they had a possible overbooking situation, reconfirmed that $ vouchers for VDB are still available on passenger request. The criteria as to the amount of the voucher ($200, $300, etc.) remain the same as before, i.e., the length of the delay, whether you switch from non-stop to connection, etc.
Depending upon the individual, the free roundtrip may be a better value than the $ voucher. Personally, I want the $ voucher if I'm taking a bump because the ticket purchased with it earns more miles and may be less restrictive than the new free ticket concept.
PDXracer: Paid domestic tickets in V or W class definitely earn miles and count as segments; I've used this class of service to make 1K for the past 6 years. If I read your original post correctly, I think you have one of the new free-trip VDB vouchers (which I have not seen) but it is my understanding they can only be used in certain booking classes including V or W and the travel resulting from the free ticket does NOT earn miles.
[Edited for additional info and clarify.]
[This message has been edited by Nevada1K (edited 11-12-2001).]