OP: To answer your question, yes, a "high end" vape can be just as good if not better than a bong.
What most people don't realize when "vaping" using a vape instead of "smoking" using a bong, pipe, or joint, is this. The different compounds, terpenes, & the like present in cannabis vaporize at different temperatures. THC, the most common compound, vaporizes AROUND 250 degrees Fahrenheit and is most tasty in a "high end" vape at around 360 degrees Fahrenheit. The so-called medicinal compounds, CBD, CBN, etc. vaporize around 415-420 degrees Fahreheit. Cannabis combusts somewhere around 500-600 degrees Fahrenheit and of course, you inhale all the compounds, good & bad, at once.
The MFLB, while a very good little vape, has NO temperature control. You control the temp by how fast or slow you draw. All of us MFLB users, myself included, have spaced, so to speak, and burned the product. But still, the MFLB is the best (IMO) of the portable vapes in as much as the batteries are removable. When it doesn't hold a charge, throw if away and get new ones. 2 for $15 US. Batteries deteriorating & not holding a charge are the bane of most portable vapes.
I have a Volcano with an ACCURATE temperature control. What works for me is vaping a bag or two at 360 degrees to enjoy the good taste (THC only, highs like a good sativa), and then bumping the temp up to 420 degrees to get the CBD, CBN effect (similar effect as smoking). I'm pushing 65. Taking some healthy rips off a bong or joint ala Seth Rogen / James Franco in Pineapple Express, kicks my ass WAY TOO MUCH. I gots better things to do than roll around on the floor coughing my ass off. A good vape is practically no wear and tear on the old, and I mean old, bod.
As a rule, pen vapes work for oils, but as far as herb goes, they're pieces of shit. With vaporizers, the rule of thumb is, you get what you pay for.