It has been over 6 years since I have been exploring/working on Visual Basic. The experience covers versions from GW-BASIC to BASIC to Visual Basic for DOS to Visual Basic 6.0 and exposure varing from my college labs to modern IT industry.
Here are the quick pick from what VB can do to your software engineering processes:
RAPID? Well nothing compares to VB in this area (well few may say Delphi, but im my believe Delphi has more limitations than VB). Probably the best tool available for Front-end development. Gets even better with 3-rd party tools/controls available in the market. Even COM/COM+ development has never been so easy and fast before VB 6.0.
Other MS Product Integration? Same here too, plan to develop a software that would work with any other MS software/package, VB is the obvious choice, RAPID+Easy Development.
Internet software development? VB, VB, VB !!! Write COM/COM+ middle tier in VB and let ASP handle the UI/Front-end. Best of both worlds.
Although VB has some limitations, but then all tools/languages has some limitations. Most of the limitations has been taken care in the VB 7.0 (well they call it VB.NET !) Which gives you best of VB and .NET framework.