they're quite comprehensive. most of what you learn, you do learn on the job and trial-by-fire, but the training material can be very rigorous and they cover a lot of topics in an 8-10 week period. also, you'd be amazed as to how much more thorough training at the big banks are.
for LBO, the basic topics are definitely covered, and then there is a lot of focus on modeling mechanics and key assumptions...something i am certain that the vault guides do not cover. you get practice from running the models yourself, but the training texts also do a good job explaining how you should approach modeling and how to think about valuation.
however, i would be interested in hearing what additional value the vault guides could contribute.