I've not seen many of the more recent spoof of genre type movies such as Scary Movie (with the recent exception of Takers). So I can't say whether this was better or worse. I can say though that I'm certainly familiar with the source material here, which counter to the poster's insinuation of being broad is really strictly making fun of Twilight. If you're completely unfamiliar with the broody, characterless, chaste until marriage and co-dependent Bella Swan then much of the humor of Vampires Suck is going to go right over your head. Not that you're really missing much - laughs are few and far between. I still can't quite believe I sat through the entire spectacle. The only thing less believable to me that that is that I'm admitting I attended. Up until the film started the only folks in the theater were myself and a 14 or 15 year old girl. It's hard to say which one of us seemed more embarrassed to be there. I did chuckle briefly at a few spots and they got a decent Team Jacob/Edward bit in at the end - but overall it was pretty boring. I can do boring without blowing $10, and I suspect you can as well.
The only reason really to see this is to remind oneself how brilliant something like Airplane! truly is. And perhaps how the Twlight films really weren't as bad as you thought they were in comparison. Though surely you know I didn't have that problem with those films in the first case. Yes, I'm serious, I really did like Twilight - and don't call me Shirley.