My wife and I have visited the V Room a couple of times, it is a pleasant enough space to spend a couple of hours with plenty of complimentary food available for breakfast and coffee/tea there are a couple of computers to use if needed, beers and cocktails are available for purchase.
We've used it a couple of times. I'd say its great if you can get in early while it's quiet, then it's lovely and relaxing and food is ok too. However, once it fills up with several flights worth of passengers, then it is anything but relaxing and we've almost been happy to leave. You may even be lucky to get seats at busy times as it's so overbooked. I'd recommend looking at the flights leaving before yours and try and gauge how full it is likely to be.
We really liked our visits to the V-Room before we found the joy that is the CH. We have always gone in their with the kids on our family holidays and they loved it ( Ages 12,11 and 8)
Food and drinks were all perfectly good, we never paid for any alcohol because we aren't big drinkers especially at that time of the morning. That was until we got corrupted by you lot :X Now I already have my first 3 drinks lined up in my head as I step into the CH.