I've played VO on and off a few times now. The combat and physics are really excellent, and the backstory and aesthetic are captivating as hell, but it falls short of that escapist 'real place' feeling for me because if it were real you would be playing some sort of slave-pilot lashed permanently to the controls of their spaceship.
Ah yes, Vendetta Online was an absolutely brilliant game. I wasted way too much time back in the day blowing up traders in Sedina B8. I might have to check it out again sometime soon, I'm under the impression it's still being actively developed isn't it?