VP$IP is a very useful stat because it explains the range of hands they will play. Now if you're playing against someone who is halfway decent this range will change according to position so you have to take that into account. If someone with that high a VP$IP is playing from the button, you literally can assume practically any 2 cards. And unless they are complete idiots, if they're playing 50% of hands, they're playing the 50% best hands, not the worst (ie folding AA-TT yet playing 23o-29o, that would be stupid). So when you see someone with an extremely low VP$IP come into a hand you have to believe they have somewhat of a hand. This works well for you though if rags flop such as 237 rainbow. With a very low VP$IP opponent you only have to worry about pocket pairs. If you're playing the 50% VP$IP opponent though, they could have 23, 27, 37, 22, 33, 77, or it's always possible they have something better. Remember someone with a 50% VP$IP still plays AA.