Hey Guys.. I am really confused between these two models, my usage would be for bed room practice and small jamming sessions a very few small gigs sometime. I prefer almost all kind of genre but would be playing mainly acoustic, clean, rock, hard rock and sometimes heavy metal but not heavier than Metallica, Megadeth. I am not a fan of death metal or too thrash stuff.

What in your opinion would be best? I really liked the peavey vypyr vip 2 because of the features it offers and USB connectivity but I have been reading that Vox has a better tone for rock and peavey is only good for metal. Aren't the Peavey vypyr vip series any good for rock? Is there really a huge difference between this Vox and Peavey that I should leave all the extra features behind?

Please help!
Your best bet is to go try them out. I have no experience with the Peavey, but they usually make damn good amps.

I also have a VT80+. It's a fantastic practice amp, that I've also used at band practice. It still held it's own with a single rec. Not great, but it worked. The Peavey controller has more flexibility for options without a doubt. The Vox just sounds good though. Maybe someone else here can chime in to the tone of the Peavey.

Either way, I doubt you'll lose.
I used to have the Vox VT40. Great little practice amp, but there's no way in Hell I'd gig with it.

The Peavey always gets good reviews, although I believe it can be confusing at first. If you're going to be gigging though, get the tube version.

TBH, the best option if you're talking about gigging & jamming would be to get a real amp. Something focused on the sound you're after. Even proper gigworthy tube amps have volume knobs for when you're playing at home.
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I have recent experience with both, and play the same genres as you. I am returning my Peavey Vypyr VIP-2 today to my local UPS store to be shipped back to American Musical Supply because it died after only 44 days. My best friend just recently picked up that Vox.

Except for the whole dying after 44 days part, I liked the Vypyr. Liked, not loved. It has a ton of features and sounds so it will definitely keep you busy / entertained. But that’s what I actually didn’t like about it. It just had too much “stuff”, and the owners manual was too big. It had decent sound and would get quite loud.

The Vox on the other hand sounds great. I love the tone. It’s also simpler to understand and use. Great rock tones and great cleans as well. Since I’ve played with both, the Vox wins hands down – for me anyway. Both amps are good for practicing and jamming with buddies, but I wouldn’t gig with either.
Thanks guys, from what you all said I feel Vox would be a better, I am feeling I would miss those pack of features from Peavey (quite sad about that) but if Vox's tone is much much better I'll think to buy Vox only.

Tech21 isn't an option for me, there aren't any dealers here.

I have a few days more to think and decide till then I'll wait for some more inputs.
The reasoning behind getting a Peavey would be the USB audio interface connection that is missing from the Vox?

Have you also looked at the Orange SS?

I think Roland Cube also has USB connectivity if you need that.
@Diabolical: Yes, USB interface is one of the reasons I am preferring Peavey as of now, besides that it has looper (with Sanpera) and also can be used as acoustic amp (bass too but i don't currently have a bass guitar so doesn't matter much)

Are these options worth giving away the Vox 40+ sound?

There are no dealers for Orange in my area.. I don't think Roland has a USB option but Fender Mustang does have.
If you like the Vox better, get the Vox.

Then save up for a Zoom G3. You won't need to use it with your VT40, but it has a USB interface, looper, drum sequencer & loads of other effects. If you ever need to practice through headphones, I can tell you from experience that it sounds better than the Vox through headphones. It will also be a good effects unit to have should you ever choose to buy a non-modelling amp.

With the amp though, buy the one you like, not the one that has a couple of extra features you might use someday.
Gibson LP Traditional, LP GT, LP Studio, SG Standard x2
Barber Tone Press > EHX Worm >TC Polytune > EXH Glove > EHX East River Drive > Zoom G3 > TC Spark Mini Booster
Jet City JCA22H
My SoundCloud