This is my main. Yes, I have a rogue, but he just hit 80 and I have nowhere near the investment in the class as I have with hunters.

Vanish, when it worked, pre-4.0.1 did what it was supposed to: let the rogue escape. Now that they've fixed Vanish so that it actually goes off, it's no longer an escape, for the most part.

Rogues are as annoying to me as to anyone, but it just feels wrong to see the rogue "Vanish" in a puff of smoke, only to still be clearly visible and able to be 'Marked(after CloS fades,) etc.

The one way I've seen rogues effectively use Vanish that works fairly consistently is to burn Vanish along with CloS *and* Sprint, to have a chance to get out of stealth detect range before Vanish fades.

This is correct, provided you aren't using Hunter's Mark or some kind of "I still see you, dude" ability. If you have a rogue targeted, and they Vanish, you should lose your target.

This is the case in beta as far as we know. There are some situations on live where it does not work, but they are all fixed in beta and therefore will be fixed when the Shattering occurs.

As I said before, make sure when you're reporting a bug that it is a legit bug and not "I wish Vanish made me immune to spells because that was cool when it worked even though it didn't work often."