In my experience, the Vanquisher is pretty good. I think it's in the light class, but it can easily hold its own with the mediums. The best thing about it is that it never ever ever ever in the history of ever runs out of water. No other blaster I own can last so long. Another thing we found out about it is that it barely makes a sound when you fire it (I think it's a ball valve thing), meaning you can sneak a shot at someone, and they're less likely to notice. While big CPS guns make a cool *PSHHT* sound when you shoot them, it does kinda have the same effect as yelling "incoming!" at the enemy. While the Vanquisher's stream could be bigger (you could drill out the fan nozzle though), it is very well laminated, meaning that most of it will hit your opponent when your aim is true. Range seems to vary, but I got about 38-39 feet out of the one we have, which is quite respectable.
The only thing I really don't like about it is the ergonomics. The mid-mounted handle does give it extremely good balance, but the grip is so awful it still makes it awkward to use. The Vindicator and maybe the Gorgon are the only stock guns I've used that are worse. But overall, the Vanquisher is a solid choice, just so long as you can get past the funky handling. Though I suppose you'd have to make sure to get one with good range.