I'm not against VATS, I'm enjoying it --- I still feel it could have been done better though. As it is now, it just seems like a glorified bullet time combat system - similar to the one found in Max Payne (the game, not the movie)
They should have included targeted shots to the eyes and groin like the originals, with a small percent to hit considering how small they are. Eye shots would be instant kills naturally so the percentage of hitting would have to be very low.
I will admit VATS is over the top at times. A head shot with a BB gun isn't going to make the head and limbs blow off on a critical.