Yesterday I had a chance to get together for an evening of VS with Scott and Collin. While trying to quiet my nephew down enough to go to sleep I watched them play two games one-on-one. Scott was playing a deck made mostly of cards from Universe and Collin had DC Legends. All of us made various remarks about the power levels of the cards from the new sets being frustrating to deal with, or in some cases plain over-powered.
Later on we were able to play a few three player games, and it struck me that the simple addition of another player really seemed to level out the playing field. Due to the number of things to consider when attacking and defending against two opponents instead of just one, many of the high-powered effects don't seem to be nearly as bad. While this doesn't really address or change the fact that the cards are in general more powerful, I think it's an interesting observation. It also might be a good suggestion for players who do use older sets, or were DC-only players to help keep VS interesting.
Another option is the multiplayer team format. The Galactus set is great for multiplayer. Several months ago I also found fan-created Starro set (and I'm ashamed to say that I can't remember who created it at the moment). However, it was a lot of fun to play as well, and I think I'll print those out on proper stock and set up a team-play even in the near future.
I'm really looking forward to the Ban-5 tournament tonight too. I guess I better decide what deck I'm going to play!