There's a thread at Pistol-Forum.com and a thread at ARFCOM covering this new holster. It's meant to be for AIWB carry, but would probably work just fine anywhere on the belt, as well as for other modes of carry. The ARFCOM thread is far less understanding towards the VG2, as there are many naysayers there that pooh-pooh AIWB carry in general. It's kind of like clicking on a "show your watch" thread and finding a bunch of morons posting pictures of their iphone.
Looking at the VG2, it seems to me that they were trying to make the original Vanguard holster adjust for ride height and give it better retention. It's the same thing I was going for with my modified Zack holster, but better executed.
The VG2 is also tuckable, and that's a big deal when you can get it, and with a projected cost of $40 or less it's a bargain. I'll have to try one before too long.