When tactics and positioning are more complex, I use a wet erase battle map and a mix of mini, tokens, and rocks. If I find the time, I would like to create more dungeon tiles. I could see using a VTT to replace dungeon tiles and battlemats because it would be easier to load a digital map and put digital tokens on it, but that detracts from fun of players moving their own minis (or rocks, bottlecaps) around. It is less engaging for at-table play.
A mixed-media approach like what Nikmal uses is really nice. I REALLY want in on one of his games and am bummed I can't make Con of the North this year. BUT as a DM myself, I don't know if I want the extra work.
Also, the recent announcement of the DnD 5e SRD release under an OGL has shifted my priorities. My short term goal is to buy HeroLabs with the 5e SRD material and see how its enounter builder works. One I get HL smoothed into my workflow (assuming I find it helps me manage my 5e games), then I may take another look at VTTs at the table.