The Varsity is my fav. place to go see a movie in Toronto. Mainly because of the VIP.
Yes the ticket price is a little bit more (I think maybe 3 or 4$) but I think it's worth it. The theaters are much smaller (approx. 20-40 seats, depending on the room) and so are the screens, but if this doesn't bother you then you'll like it.
The seats are much more comfortable and allow you some great leg room. Not to mention the little tables are are great connivance when the cup holder isn't enough. The extra money on the ticket price is a huge benefit when it comes to the service because you don't have to wait in the lineups when it's busy.
I have found that the VIP bathrooms are very clean which is always a plus in my books. But if there's a line up I'd suggest to use the bathrooms at the far exit across from the 2nd concession area.
The regular theater rooms are okay if you want the whole movie experience but I prefer the VIP. If you go in the mid afternoon you may not have anyone else in the VIP room with you which makes it feel like you're right at home.
Also, if you're parking they validate it after 6pm but if you're taking the subway it's connected which is nice so you don't have to walk in the cold or the rain when it's gloomy outside.