In HoI2, victory points have no effect on the game. Just like in Eu2. When eu3 released, i had more fun on increasing my prestige (which was - i believe - vp in eu2). I wish ho3 would have a speciality on vp. Like seizing in a province which has high vp should lower your dissent (depends on how does the nation look at warfare politics), armies gain more morale, should make it easier to infuence nations etc. i'd be pleased if vp would have more importance.