Eddie, No personal insight from my end but some local threads regarding your query ...
And one that's not that local ...
This may be replying too late, but Solidworks PDM Pro is head-and-shoulders over Vault Professional. Solidworks PDM Pro will allow you to do almost anything you can imagine so that you have a lot of automated functionality which just isn't there in Vault. Even though Vault has an ECO system imbedded into it, its functionality is very limited and cannot by changed. Your custom lifecycles are not controlled by it and there is no such thing as automatically populating drawing fields with lifecycle state changes as it moves through an approval process. Everything is pretty much just pushed through manually. Not good if you're looking for one click approvals and automation.
Moving from a company with PDM Professional to Vault was a big disappointment. Although it could be worse. You could have Windchill.
I hope this is helps someone.