The thing to remember about the VRM box is that it doesn't, and can never, recreate the experience of listening on monitors through your headphones (although for some reason the TV speaker setting seems to fool me
). Nor does it offer a particularly "pleasant" listening experience, in that you're not going to want to listen to your CD collection through it. What it does though is throw you enough "simulations" of different speakers to give you a rough idea of what's going on in your mix. The different settings are going to expose different problems - for example the "British Studio" monitors are instantly going to tell you if your bass is too boomy or muddy, and the Auratone and Japanese White Classic settings will give you a good idea of how things are going in the mid range. I also love the Computer Desktop setting, it gives you an instant indication of how audible your bass is going to be on small, tinny speakers, and if you can't hear it it's worth reading up on how to make bass more noticeable on laptop speakers (boosting certain frequencies, using a plug like Maxxbass etc).
Some of the settings are very revealing (and disheartening). For example, my music nearly always sounds like crap through the bedroom & living room Hi-Fi Settings. But then I play some Steely Dan through them and it sounds great. Back to the drawing board!