There were 2 rounds of the value line guns. The early series was pretty much a 3rd gen with just some cosmetic machining differences in the frame and slide, plastic sites and a plastic guide rod. The later VS guns were NOT the same internally as a normal 3rd gen. Most notably they did not have the lock system between the barrel and the slide in the machined ring on the barrel that locks in the groove on the underside of the slide. IMO and through personal experience the later VS pistols are vastly inferior 2 a real 3rd gen the early ones however are a 3rd gen that is a little cruder in look but has 100% the performance.
Some where here there are a couple threads with photos showing the real differences I am talking. (Found thread look here for more detail 915 vs. 910 -- no lug on 910 barrel?)
Bottom line if looking at a Value series pistol pull the slide and look for the groove in the slide just in front of the ejection port. If it's there the pistol is a 3rd gen with out some machining in the slide and frame but the same functionality if it doesn't IMO stay clear!