I tried it several years ago. Nice base, which I'd describe as a heavy single-weight or light double-weight, i.e. "medium weight." It has always been variable contrast. There used to be two versions; one was grade 2 with no filter and the other grade 3 with no filter. The default grade 3 version was discontinued.
You might wonder why Fuji would go to the trouble of making two such versions rather than simply a single paper adjustable with filters over a wider range. There are a number of reasons. First, it's easier to obtain well-behaved characteristic curves when VC paper only needs to cover a narrower range of contrasts. Second, this approach makes it possible to avoid sensitizing that's susceptible to focus shift from UV passed through enlarging lenses which suffer from lateral chromatic aberration. Finally, a given grade's characteristic curve can vary between the two versions (e.g. the default grade 2's curve with no filter distributes tones among toe, straight line and shoulder areas differently than did the default grade 3's curve when printed through a #2 filter).
Unfortunately, I much preferred the default grade 3 version, which was discontinued shortly after I completed the test.