It use to be that the selection of VC papers was very limited, and if one wanted warm-toned papers, papers with unique surfaces. etc., one had to use graded papers. The selection of VC papers is greater now, and graded papers pretty much fell to the wayside. But the over-all selection of new, currently manufactured papers (and the various surfaces) has decreased with the advent of digital, and companies such as Agfa and Kodak no longer making photo paper.
VC papers do have their advantages (split filter printing, for example), so they are worthwhile using. I do little silver gelatin(photopaper) printing these days, so others can fill you in with the latest and greatest.
Vaughn