It's a love hate relationship! I've been doing a high volume approach recently with some great results. It's designed by a Poliquin practitioner and is 8 sets of 8 reps, 8 exercises per session, 4 sessions a week.
The exercises that I've been doing probably wouldn't be appropriate for most, given that there is some remedial work in there to sort out latent muscle imbalances but overall I'm very pleased with the results. In the 4 weeks so fart, I've cut fat and gained lean mass (demonstrated by a 10 site bf test every 2 weeks). I've put on about 3lbs of mass and cut the same in fat. I imagine that if you eat a lot and eat well, GVT would do good things. Recovery is the only issue that I've encountered - you need to be spot on with your PWO nutrition otherwise you're going to be uncomfortably sore!