I've been to Coachella a couple of times & granted I've never gone VIP but I'd vote against it. Unless you want to meet Kelly Osbourne & Tommy Lee
I mean, it doesn't get you any closer to the stage & that's the whole point of going IMO.
Now, if VIP let's you bypass the entrance line to get in then that's a BiG bonus because I'm not a line guy & believe me, there's a line. Beer lines are never bad. Food line's a little worse but if you eat 'off schedule' you're all set.
You best bet for hotels is to call the closest ones to the polo field 2 or 3 times a day & hope for a cancellation. Find out their latest time to cancel a reservation for the 29th because the people cancelling their reservations might wait till the last minute.
Riko can speak to it a bit better as he's a more seasoned Coachella guy...but he may have already begun the trip west...Riko?