Welcome to CS! *The saeco VV is a good little machine to start on. *Many of us own them, though I for one am hoping to upgrade in the near future. *
The VV has limitations but it is reliable and has stainless steel components (including the boiler) which is a definite plus in a "low end" machine.
To get good results from this machine you will need 1) fresh beans, 2) a good quality grinder and 3) a depressurised portafilter. *
The grinder is a key factor and many will recommend spending more on a grinder before you upgrade the machine. *You will not get very good results without freshly ground beans.
Definitely depressurise the portafilter. *If you do a search of this section of the forum you will find a number of threads with good info. *You do not need to purchase a new one. *To modify the one you have just unscrew the bottom, remove the plastic mechanism, poke the plastic false floor and o-ring out of the bottom of the metal half the filter and screw the bottom back on. *Itll take you a few minutes. Once this is done, however, you will need to invest in a tamper in order to create the right pressure that the mechanism was (poorly) imitating.
With fresh beans, my mazzer mini grinder, and a good dose and tamp I get fairly good results...thick crema and good flavour profiles.
Hope that helps. *Feel free to ask any clarifying questions.