Thanks for all the input so far, much appreciated.
I had never heard the "VNAV leaves you high because we take flap at min maneuver rather than flap limit" until I arrived at my latest company.
Anecdotally my on the line observation of what VNAV does seem to agree with most peoples. Such that the VNAV path constructs its "energy profile" (I like that, going to steal it), that if you fly a standard Boeing decent and approach profile as in the FCTM you generally end up in the same place as the VNAV. (Subject to correct FMC programming and the forecast info you've enter being similar to the actual met you encounter.)
I struggle to accept that Boeing would want the FMC to construct a profile that requires you to use flaps as drag on every approach, when they are at such pains to ensure you don't do that when you are working the MCP or manually flying. But I would like to be able to point to it on a page.
Not sure Boeing helped those new to FMC VNAV by labelling the numbers on the path as "Feet" in Vol. II. when as you say it actually combines both speed and height ,foot/knots, units of path, any other name except straight "feet" might have helped.