I am considering purchasing a vRS after the sale of my Octy and I'm now kicking myself I didn't pay extra for the HEX+CAN cable instead of the micro-CAN I have. So i'm wondering if the cheap KKL cable works?

Linky http://www.gendan.co.uk/product_VAGUSB.html

Thanks Ad.

Yes a cheap one will work, they're even cheaper on eBay!

Even on a 2005/2006? If so, what functions are available from using VCDS lite?

Assuming it is a mkI fabia then vcds lite will work but if you just buy a cheap lead and use vcds lite pretty much all you can do is check for fault codes, but not an auto scan. If you wan the full function from vcds lite you need to register the software with Ross Tech for about £60 ($99 IIRC).