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Hum, well, looking at the manual it says the VE New is what should be in the VE Table based upon feed back from the O2 sensors. So I guess it is valid to use that way.
If this is what the manual says it's wrong. VE new is not what should be in any one cell and it's only valid during closed loop operation under light throttle when the system has some feedback from the O2 sensor. It is invalid during much of the time like when AE occurs, or DE occurs and on and on.
V-tune takes all the collected data and uses that to generate a new calibration for you. All you do is give it a file name and program the new calibration back into the ECM. Takes all the guess work out of it for you!