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vBulletin 4 is a disaster. We've just looked at the StyleVars which are in there... wow... no wonder you don't want to touch this. vB 4.0.5 is out, 4.0.6 is supposed to be out and the rumor is the whole templating system is supposed to change in 4.1, which will probably not be out until Q4 at earliest. I don't know if it even pays to skin your vB forums, which also are not IE 6 compatible (the sidebar which can be closed by the user does not show in IE 6.) Best not to do anything until 4.1 and make a decision then whether you want to provide skins.

David, you're an amazing designer. Don't waste your time on this crap. Do something for IPB, which numerous VB forum owners are moving to. Wishing you the best.