It's used sometimes...But you also get a bold name :O and a title thing!?!?! OMFGDATSSOOKEWL!!!
I only want the title that's it I also have a feeling the only time the VIP section is used is for talking about others. Just as how Darkfinn made the topic about kicking off betagame for a few days so he could get some common sense or whatever.
You still need 80 posts to get to 200. Your post count is under your name and other info. Also you need at least 10+ rep to become VIP then some other hidden requirement that's not automated. I figure a mod has to grant you VIP access and thus keep the undesirable's out.