Vanish is not a terrible line, but it's not great. I used it quite a bit before I knew about different flouro options, and it was ok. I never had problems with it breaking. However, it's not particularly strong, not very manageable, and the worst part: it's not very sensitive.
I haven't tried too many flouro-type brands, including the bond-type combos, but the three I've become very familiar with are Vanish, P-Line flouroclear, and Yo-Zuri Hybrid Ultrasoft. Ultrasoft is way better for what I'm looking for in a line. It's probably less stealthy than the other two I mentioned (but that's not to say it's not stealthy), but it's stronger, thinner, and noticeably more sensitive. However, it is less manageable than P-Line, and about as manageable as Vanish (maybe a little more than Vanish). It's definitely stronger and more abrasion-resistant than the other two.
So my review:
Vanish: not bad, not too manageable, quite stealthy, not too sensitive, relatively strong (I still use it for leader sometimes with no issues).
P-Line: the softest flouro I've used, most manageable, but the least sensitive, and also quite stealthy.
Yo-Zuri: not too manageable, not as stealthy as 100% flouro, but very sensitive.
I can't speak for Gamma or Seguar, but I hear they're really good, and I'll definitely try those after ice-out.
So if you're looking for stealth and manageability, P-Line flouroclear is good, but you'll sacrifice sensitivity and abrasion resistance.
If you're looking for stealth and value (I think Vanish is cheaper than P-Line and Ultrasoft right?), go with Vanish. It's not a bad line.
If sensitivity and strength are more important than manageability and stealth, go with Ultrasoft. This is where my preference lies.