Depending on location I could see myself going there for smaller $20-$50 sets I just have to have when they come out and save up VIP points that way. When it comes to bigger sets I'll go down to Bellevue and spend my VIP points there.
As for location I know some people have speculated that since the first job postings for Calgary and Toronto were posted as Calgary and Toronto, the Vancouver one would be located in the City of Vancouver. Let's not forget both the City of Calgary and Toronto are huge sprawling administrative districts that cover over 500km each while Vancouver is less than 200 km2 and only has two malls (Pacific Centre & Oakridge) that would be up to LEGO's caliber. All of LEGO's stores in Canada are located in malls with easy access to the freeway and only two in the USA (Chicago and New York) are located right in Downtown. If it were Pacific Centre or somewhere downtown I don't think I would shop there more than 1 to 2 times a year, because I hardly ever go downtown nor want to spend $10 parking to get there.
Oakridge might be a better possibility, it's an in affluent neighbourhood with easy access to parking and Skytrain, and only Zellers there sells LEGO I think, with the nearest TRU on Broadway.
If it were out in the burbs some other locations suggested are:
Metrotown: There's already a TRU and Zellers, but it's a HUGE regional mall with free parking and Skytrain
Richmond Centre: No one sells LEGO in the mall aside from a limited selection at Sears. I know the food court is going to be relocated upstairs soon but the stores where the food court were won't be opening until 2013.
Anyone from Surrey or Coquitlam want to to chime in with speculation there ?