the main benefit of FTTC over cable is that you're not sharing coax with other properties, so won't suffer from contention between your house and the cabinet as well as on the backhaul.
But BT's FTTC product doesn't have contention between house and cabinet either (how can it - one 2-core cable is used exclusively for each property).
I've also read (but can't be bothered to re-Google) that BT plan to have capacity in the fibres back to the exchange (which could, if BT wanted to pay for it, eliminate contention right back to the exchange), so as cabinets take on more customers, provision exists for upgrading the back-haul to the exchange.
The 'real' contention will start at the exchange (and I can't see how VM gets away without having limited capacity on their backbones).
I.E. VM "fibre" (which; as you say, isn't fibre from home to cabinet) should
be a near equivalent to BT's Inifinity product (in terms of real-World performance), excepting for minor differences in top speed (e.g. 50Mbps vs. 40Mbps and 100Mbps vs. 80Mbps).
ADSL2+ with BE
DL Sync around 4.8Mbps
UL Sync 1088kbps
DG834GT with DGTeam firmware