No problem, we're more than happy to answer your questions so that you have a clearer idea of Vantage before you decide to make a purchase :)
A user enters my site, likes what they see, and decides to purchase.
Yes, if they visit the site and decide to place a listing, they can get started right away.
They create an account, are presented with payment options, etc, and once all that is concluded, enters the information and (if applicable) uploads images/documents for their business.
The customer has to register first, and then they complete the listing form (which may or may not include attachments, depending on your own settings). At the very end of the listing process they are prompted to make payment for it. If you access the demo site for Vantage, you can get a feel for the listing process (although please note, the demo site does not save data, and hence the listing will not actually be posted)
These users, once they have an account, can log in at any time and change their listing information, as long as their account is valid.
Yes, although you can choose to moderate them if you wish.
User accounts are automatically created, and require no interaction on my part. Once a user account is created, I can revoke access if need be (non payment).
Yes, the account is created when the user registers and does not require approval for that part. Yes you have control over user accounts from within the WordPress admin dashboard.
I have the ability to enter any user created listing and revise or edit if I see fit, or am requested to do so by the customer.
Yes, you have control over listings also within the WordPress admin dashboard. Thanks.