Unfortunately no, it is not better in every respect I know because I'm using one right now.
I've encountered WLAN cards that did not work in motherboards with VIA VT8237 Southbridge, but found other WLAN cards that worked perfectly. A driver update for the WLAN card solved the problem in a couple instances, or using a different PCI slot, but driver updates for some WLAN cards are difficult to come by. Atheros, Broadcom, and Texas Instruments don't release driver updates to the public, and most peripheral companies fail to update their drivers beyond the 'initial release' version. I've had to find newer drivers from a completely different OEM or brand.
e.g. I'm using Broadcom WLAN drivers released by Hewlett Packard with a WLAN PCI card branded by US Robotics. The HP driver is more than one year newer than the 'latest' available from US Robotics. Using the newer HP drivers solved major problems I encountered in a motherboard with VT8237 Southbridge (crashing and connectivity issues). When I informed US Robotics tech support about my experience, they completely ignored that the newer drivers (from HP) were working flawlessly and blamed the problem on VIA's chipset.
According to the Annandtech review the 775i65g was superior to the Dual-Vsta in almost every benchmark (even with their ram running at ddr355).
By less than 5% (typically 2 ~ 3 fps max difference), which is discernable only with benchmarks and not meaningful to real world use, as the Anandtech review points out at least once.
The PT880 has always scored significantly less than Intel 865 and 875 in synthetic memory bandwidth tests, but this translates into a 5% real world penalty against the fastest PAT-enabled Intel 865PE and 875P enthusiast motherboards on the market (as I've proven a few times in older discussions). In addition, the review stated:
"Our results showed that while there were differences in memory performance between each chipset and speed setting, it mattered little in the overall performance of our system. This was mainly due to
our selection of mid-range components that likely would be used when upgrading to our motherboard and processor choice."
In addition, Conroe865PE uses an even more dated Southbridge than 775Dual-VSTA's VT8237A and connects to the Northbridge through 266MB/sec interconnect compared to VIA's 1GB/sec Ultra V-Link. Conroe865PE uses AC97 audio, 775Dual-VSTA has HD audio, to name some of the numerous advantages.
But technically I was incorrect - ASRock 775Dual-VSTA is not superior in every respect. Other than having superior specifications and features across the board, with the lone exception of max. memory support, the 775Dual-VSTA does benchmark ever-so-slightly less than Conroe865PE in some benchmarks (which nobody cares about except for the benchmark zealots).
The Dual-Vsta adds PCI-E, DDR2 and Raid support, but if you were going to buy DDR2/PCIE is that the board you would want for your CD2?
The market for 775Dual-VSTA is to retain AGP and DDR, with DDR2 and PCI-E as a later upgrade path option, not to purchase for DDR2 and PCI-E out of the gate.
But since you raise the question, I don't see why one couldn't buy the 775Dual-VSTA with PCI-E and DDR2 in mind, since 775Dual-VSTA performs fairly well against chipsets designed for PCI-E x16, SATA-300, and DDR2 even when 775Dual-VSTA is hindered by x4 PCI-E and SATA-150:
ASrock 775Dual-VSTA Review @ OCWorkbench
Application Performance: 775Dual-VSTA, Intel 945G/P, 965P, 975X, NV570
Gaming Performance: 775Dual-VSTA, Intel 945G/P, 965P, 975X, NV570