Greetings everyone.
My name is Smiling Priest. Im Gold II player and Vayne main.
This Guide is going to reveal three aspects of Vayne.
Traditional, Trinity and Bloodrazor one.
We will discuss strong and weak sides of every one of them.

Here is the proof that all three build are viable.

Let's start with the typical Vayne build.
Maxing W first

Pros:

✓ Good kiting
✓ Can stun enemies and interupt dashes, jumps ( Alistar headbutt, Leona E, Pantheon stun, Thresh dash after hook ect. )
✓ You can shred well throught their tanks
✓ Great lategame
✓ Good chasing

Cons

❌ Weak lanining phase
❌ Long cooldown on Q = less stealth and more vulnerable
❌ Hard to pin enemy to the wall
❌ Very squishy

Maxing Q first
Pros:

✓ Great kiting thanks to movement speed from trinity and low CD on Q
✓ Can stun enemies and interupt dashes, jumps ( Alistar headbutt, Leona E, Pantheon stun, Thresh dash after hook ect. )
✓ Great lategame
✓ Great chasing thanks to movement speed from trinity and low CD on Q
✓ Your Q deals tons of DMG to squishy targets.
✓ Best laning phase build for Vayne ( You get powerspike after building sheen )
✓ You can pin enemy to the wall easier thanks to movement speed from trinity and low CD on Q.

Cons

❌ Squishy
❌ You shred their tanks less than with typical Vayne build
❌ Hard to master
❌ Team will think that you dnt know how to build

Maxing W first
Pros:

✓ Challenging smite can lower enemy dmg output on you by 20%
✓ Team can take early drake/baron ( 2 smites in team )
✓ Shred thorugh tanks like god of war himself.
✓ Tanky
✓ Can stun enemies and interupt dashes, jumps ( Alistar headbutt, Leona E, Pantheon stun, Thresh dash after hook ect. )
✓ Viable kiting
✓ Insane lategame

✓ Enemy will underestimate you

Cons
❌ No heal on lane means if you make mistake you die
❌ Kiting isnt such good as in traditional/Trinity build
❌ Very weak early game.
❌ Team will think you are troll and will flame you hard.
❌ Very hard to master

Traditional Vayne shreds tanks well and kills squishy targets fast but is weak early on.

Trinity Vayne builds lot of AD and depends on her Q movement speed and kiting abilities. She can chase and kite very well but she dnt shred tanks like other variants. She can kill squishy target in secounds.

Bloodrazor Vayne is a monster. She shred tanks in matter of secounds and is tanky.

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Thanks for reading. I will update guide with general tips for Vayne soon.