Thanks to bgood79 I actually got the Big Star reference. As for mk calling Lou Reed "woefully over-rated", I think there is some truth in that... but then I remember this: http://www.youtube.com/watch?v=wGkRUb_k-Mo and this: http://www.youtube.com/watch?v=6xcwt9mSbYE and this: http://www.youtube.com/watch?v=nkumhBVPGdg Ignore the old dude that will jump on any stage with the flavor of the moment and cover Sweet Jane with them and then he's not so bad.
http://www.youtube.com/watch?v=8LWtb621DRg There's something about it I really like, just because it's terrible probably but they just though 'fuck it, we're doing it'. The three VU songs you picked are probably the ones that reinforce what I dislike about them the most. Just not doing it for me.
I think there's so much 'importance' surrounding that band and Reed, that it obscures the fact there isn't much else.