Both my wife and myself have a vega and they are superb tablets for the price.
My wife is running the Corvus ROM (Froyo 2.2) and I'm running an early build of ICS.
The viewing angle complaint has never been an issue for either of us as we both tend to sit face on to the tablet when using it.
I would really find it hard to complain about the tablet considering its low cost. It just makes other tablets seem very expensive for what they offer. But there is a very obvious difference when using a ipad 2 etc as the colour reproduction is not as good.
Using my sister in laws iPad 2 I was sort of impressed but then again I was reminded of the price and for what we use our tablets for I could not justify that cost difference.
Whilst I appreciate that other people will expect things different to what we want they have been one of our better value for money buys.
To put the latest version of HC on, actually called Honey Ice, is very very easy at the moment as it is in NV flash format, which means a double click from the PC and it reformats and partitions the tablet to install the ROM. For me it does not seem to work as well as ICS, which uses a similar installation. One of the biggest issues with the Vega (unlike the Iconia A500 for example) it only has 512mb of memory, For a Froyo ROM (2.2) that is not an issue but for a HC or ICS type it does struggle a little. Also the devs are having to patch those ROM's together themselves as there will not be an official update. But the devs are doing a great job and whilst ICS is still in Alpha it is a usable, for me, as a day to day ROM.
Some people do find though that whilst one ROM runs really well for one person it can cause another tablet to have some real issues. Whether that is down to the hardware or the users expectations I'm not sure, it could be a bit of both.
The Vega is cheap and cheerful and certainly should not be dismissed but is not in the same league (or price) as a Transformer. They were selling off the Motorla Xoom in preparation for the Xoom 2 and that could be bought for a good price, but still double that of the Vega from the £129 quoted. They are a very good tablet, with 1GB of RAM and an official ICS release.