Re: give each blog a forum?
to answer the 2nd part of your question:
Buddypress uses bbpress-live, which is an api interface for bbpress. If there is a api interface for vbulletin, it would be pretty straight forward to make an api interface for it.
It looks like there is an api, here is the code documentation:
http://members.vbulletin.com/api/
But, after a quick review, I don’t see anyway to read the forum posts?