I love the Vintage channel. It's incredibly versatile. Of course it does a great glassy classic rock (depending on Bold or Spongy and whether you're using the Tube Rectifiers).
For High-Gain applications, It can do really tight, sorta "over-gained" Metal. It's really easy to get a dirty low end with a clear and warm high end for single-note work at the same time.
My favorite sound to get out of the vintage channel is a great heavy/sludgy tone. Good for hardcore/punk influenced death metal (like Entombed or Disembodied for example, or Trap Them for a more modern example) or low-tuned d-beat influenced music (Cursed, Trainwreck, Rise and Fall etc.). Most of the modern d-beat bands just crank Marshall-style Heads or put pedals in front of (for example) an Ampeg V4, but IMO the vintage channel of the DR does a much better job of performing both high-gain/low-tuned AND providing a level of warmth and clarity that the Marshall doesn't do when it's pushed too hard. The Marshall's gain has to be cranked (in the former example), whereas in the latter (with the DR) you've got plenty of gain to dial in just the right amount. And even though the channel is voiced with slightly more mids the presence still comes in very useful to adjust for attack depending on your picking style.
The Orange/Vintage is equally as useful as the Modern/Red channel.