Ask HN: Anyone have experience with forming a Vermont Virtual Company?

I'm just looking for more information on VVCs. I know there's some information here: http://vermontvirtual.org and in various other places around the web, but its spotty at best because the entity is so new.

Has anyone formed one? Anyone have any in-depth knowledge about them? Any insight into whether or not there is any substantial difference in the entity, as compared to an LLC, besides the lack of physical address? Etc..

I'm considering starting one just to see the process. I wouldn't do it for a serious project, of course -- it would be for a small, fun side-project. I just wanted to see if anyone had any reliable info before I take the plunge blindfolded.