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Depends what you want to redeem them for. If you only want to redeem VS flights I still think Velocity points are better value.
I do believe VS miles are very good value for some partner airlines though
There are some interesting VS partner airline redemptions. E.g. NZ J from anywhere in Australia to New Zealand is 15,000 miles. During a 50% bonus promo, you could buy those miles for around AUD300. The best value would be on a redemption like PER-AKL, although availability is probably going to be an issue.
SYD-HND on NH for 45,000 Flying Club miles in J is also not bad. Those miles would cost just under AUD900 to buy with the current promo.