I would get the Herpstat 1. Proportional thermostats are much better. But the failing in the on position can be an issue. This has been addressed by the Herpstat 1. The Herpstat 1 an a safety relay that will kill the power in the case of a thermostat failure (which is extremely rare anyway). Overall I think that herpstats are a better product than the VE line and a better bang for your buck.
http://spyderrobotics.com/home/products.html
On/off thermostats can fail in the on position as well just so you know.
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