VbSEO is a seo product for vbulletin forums. It basically uses mod_rewirte in conjunction with other things to make your urls friendly. Apparently it's a great tool and many people swear by it. One guy I know said that member registrations increased 3 fold after he installed it. Only catch - it's expensive and you need apache on your server (so won't work on IIS).

I'm thinking of getting it soon - anyone used it?

I've heard some good things about this, too. Just today in fact. however, it is around $150 USD. If you have a new forum I would consider investing that money somewhere else... like advertisements, contests, a cool skin..etc.

I hear it's easy to install and set up. Kind of turn-key. If you got a couple of C-notes laying around collecting dust, then have at it.

Not for me, though.