Hi Risk,
I forgot to mention, one other nice feature of VueScan which I'm not sure Epson Scan has is multi-sampling. Sometimes in dark shadow areas you will see a lot of noise from the scanner. Multi-sampling can help with that.
I wrote a blog post about my scanning workflow a couple of months ago that may help you get started:
http://www.daltonrooney.com/weblog/2008/04/16/taking-a-picture-part-four-analog-to-digital/
Pay special attention to the link to Colin Jago's website. There is a lot to learn there.
http://www.auspiciousdragon.net/photowords/?page_id=1225
The important thing about scanning as a positive is that you need to capture all of the information from the scanning sensor. A 16 bit linear raw file is best. This tutorial will teach you how to do this in Vuescan:
http://www.c-f-systems.com/Scanners.html#Vuescan
I use the ColorNeg filter to invert the file, but that's not absolutely necessary, I bought it out of convenience. If you're not up for testing and purchasing a new piece of software (which is understandable) you can invert the image manually in Photoshop. Don't use the Invert function! Instead, try using Levels to invert: set the output range to 250,0 (as opposed to default 0,255) and tweak the gamma (midpoint) to get a good baseline. Make sure you don't clip either end of the histogram. This image may look quite flat, but that's OK, all of the information you will need is contained in the 16-bit file and you will be able to apply curves liberally to arrive at your preferred tonality. You should notice improved highlights and shadow transitions over your standard scanning method. This has been the best way I have found so far to get film-looking results in my scans. Epson Scan always looked much too harsh for me.
I would be curious to hear others' workflow on this board. Am I going overboard? As I said, I have this part of the workflow down to a 2-3 minute process, and I am very, very happy with the quality of my scans and prints.
Here's a recent photo:
http://www.daltonrooney.com/weblog/wp-content/uploads/2008/07/41.jpg
This version has been converted to RGB and scrunched down to web size, but I have a 10x10 print on the wall at home, and every little detail is there.