I have been playing all day and I'm level 11 now but I have to admit that VATS isn't that great this time around. The hit chances are abysmal and the movement is too fast for you to plan anything. Is there anyway you can slow down VATS further than it already is? Is there a perk I'm overlooking?

Perception will increase the hit chance (as will gun attachments). Jet will slow time for 10 seconds so you could try that?