While on the face of it this policy looks like an improvement, it turned an entitlement into something that depends on the generosity of one's boss. Also, keep in mind that when quitting you don't get any accrued money. I highly dislike it.
Also, when you do leave a company, you don't always get the vacation days as a bonus in your paycheck. Sometimes those days just disappear. What's even worse is that some vacation days may be a part of your compensation plan, but work pressures prevent you from using them, and they expire within a year. Vacation days are hardly an entitlement.
Personally, my ideal work situation would allow me unlimited and untracked vacation days, absolute freedom to work when, where, and how I choose, and pay me ONLY based on performance (both my direct contributions and a percentage of overall company profits). I suppose this is fairly close to actual business ownership.
Depends on the state. In California, vacation time is earned as it is accrued and thus must be paid out on termination (voluntary or not).
Also, don't give up on old wages. An employee at a former employer filed a class action lawsuit (somehow I got attached), his hardwork resulted in an $8k check that found its way to my doorstep. ;)
I disagree with your use of the word scam to describe an untracked vacation policy. An employee at any one point in time will probably have no more than 6 weeks of accrued, unexpired vacation time (assuming they get 3 weeks per year and haven't taken a vacation in 2 years and their vacation rolls over a little bit). This is only 3 pay periods, or just over 10% of their actual pay (6/52 weeks).
I would agree that in general vacation policies are a bit of a scam in that you are promised x days as part of your compensation package, but then are told when they can or can't be used, and resist if you try to use them all at once, and expire them if you hold on to them for too long... Come to think of it, defined vacation days are a bit like airline miles.