From inception BVG graded sheet cut cards. Think I still see some of the 57 Topps stars floating around in 9.5s from back in the day. I do not have a lot of confidence in their grading knowing that certain east coast card doctors use them when they cannot get the cards past PSA or SGC. I also see inconsistency in grading, as others have mentioned, but I see it with PSA and to a lessor extent SGC as well. When I see a high grade or pricey vintage card in a BVG holder I assume it had already made the rounds at PSA and SGC.
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