I have been working with vagrant on 3 projects now and I have become a fan.
No more fuzz about dev databases full of incorrect testdata, no more "can't reproduce, don't have the correct data", no more "but it works on my machine". One and the same db data for all! and highly configurable. I like to have a local and a local_dev environment if I am doing things which pollute the DB a lot. no issue here, you just pull the DB twice with a different param. As easy as 'Vagrant up'.
Also comes as a plugin in IntelliJ. Super easy to use with myBatis Migrations (will post something about this soon)