I have read the step by step guide to VQ. I am good at split second timing. Done it lots in WDW.
My question is; does and early queue mean the best seats? do they fill the seats from best to worst?
Or does obtaining a VQ just mean that you have received an entry for that night?
Do I have to show up early to get a good seat?
And what are the best seats?
I don’t even know if there are seats. 
Unfortunately, there are no seats for the World of Color VQ. You’ll need to stand.
The VQ gets you a spot in the amphitheater. You still need to get there early, when it opens, to get a good view, particularly if anyone in your party is short. Standing next to the railing between the bottom tier and the next tier up is your best view. Each tier can be 6-7 deep with people. The top tier is reserved for the dessert party guests. Go look at the amphitheater during the day to get your lay of the land.
The good news is there is no particular rush to get into the VQ. You can join at your leisure when you get to DCA and once it is open.
The bad news is as @stlouie said, it only gives you entry into the giant corrals where people stand. Not necessarily a good spot. In fact some of the best spots do not require a VQ, such as on the Pixar Pier bridge by Lamplight Lounge.
One tip is to go to the second showing if there is one. It is less busy and there is less time for people to queue up so you don’t have to be too early. I don’t know if it has been running two shows lately though.
The surefire way is to get dessert party tickets. People who have done it have been satisfied.
They were at the end of June at least
OMG 
is your party just adults, or also kids?
I have only seen it twice, but both times I just did traditional walk up and had fine views. I am the type who goes early, however.
This requires getting there early, too. However, to your point about the second showing, I have hung around on the bridge shortly before the end of the first showing and slipped in next to the railing as people are leaving their railing spots. This requires MUCH less time investment than bridge railing spots or railing spots in the amphitheater for the first showing.
You don’t need to be in DCA to join the VQ. I have joined the VQ from DL.
And like you said, there is no counting down the seconds for World of Color VQ dropping like there is for other VQs in DLR and WDW!
Good to know! It has been so long since I joined one. I think you do need to have entered a park though.
Yep. The DL website says you can join after entering DCA, or DL if you have a park hopper. Right now, the queue doesn’t open until noon.