Most of my (diesel high performance) experience is with the P-Pump.
The delivery valve in those pumps acts as a one-way backflow prevention valve as well as what I would consider to be a poppet valve. It is designed to crack at a certain pressure as the pluger pumps fuel towards it and it is also in there to keep any remaining fuel in the 'slug' from coming back into the pump via the injection lines.
The part of the delivery valve that folks like to modify does not affect the valves ability to be a backflow prevention device. All we are doing when we grind the delivery valves is making the valve less of a restriction as the slug passes through..... that's where you get more fuel.
If the delivery valves inside the VE/VP pumps operate under the same principle as the P-7100, (which is the assumption I have made from the research I have done so far... ) then the end result will be the same:
More power/better response.
It is up to the end user/installer to make sure that their truck has the proper tuning (timing, boost, etc. ) to burn all the extra fuel.
Thanks to Mark and Steve - I will soon have a VP-44 to play with... at which point I can begin incorporating my research into the VP-37 that's inside my VW TDI. I can then give my results to the VP-44/37 crowd and people can start playing with their pumps.
The thing to keep in mind is that the mixture of high pressure, tight tolerances, and expensive pumps/electronics can make for some expensive mistakes... . and great results, if you're careful.
I have already played with the VP-37 in the VW - both electronically and mechanically... . and the results have been astounding. I don't have any dyno numbers... . but it sure pulls good for a little 1. 9L diesel.
Matt