I'm a fan of the MK1 because it was the "boy" scaled full powered rifle of my youth. When all the "grown ups" were raving about the 81/2 lbs HW35E, most 10 years olds could barely lift the German machine, let alone afford one.
The Vulcan MKI packed a punch in a package we could shoot. Very heavy trigger but we worked through that. Open sights were OK, but we all wanted to fix a scope. Scope creep was an issue. Take the iron sights off and it exposed an ugly breach area. Webley brought out the Telescan scout scope that fitted on the barrel block; good system let down by a basic Webley branded Jap pistol scope with very fine wire crosshair. Anyhow, generally a 4x40 or 32 could be bolted on somehow and they were the scourge of critters around many a farmyard. I think the .22 was the better as these rifle worked best at short ratting ranges.

The MKII was much more refined but lost that small package size. You may as well have had the far superior FWB Sport, so I did. Vulcan MKII Deluxe is a good looking rifle but let down by that trigger. "Buy British" wasn't enough. By the time the Webley Omega came out, a fine rifle, things had moved on again.

If only Webley, and BSA for that matter, had have produced a better trigger to compete with the Record. British Industry was pile it high, sell it cheap. Thing is their cheap on old machinery was still expensive and not very profitable as the market had moved on and demanded more. Thankfully Theoben proved we could still make high quality and truly innovated rifles. Air Arms and a few others still prove we can.