I agree, vbulletin is actually a pretty horrendous piece of software, especially since you have to pay. It is bloated, slow, and doesn't handle high flow sites well at all. You are paying for nothing more than the support.
I would recommend to you...
Invision Power Board (#1 recommendation)
phpBB (#2 because its been known to be unstable, and has corrupted a few databases, and has some security issues)
yabb SE or SM
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