Wine Spectator had a scientist test the vacuum levels achievable by a Vac-u-vin, and he found it could remove about 70% of the air just after pumping: http://johnonwine.com/2009/12/17/friends-dont-let-friends-vacu-vin/
I would imagine this is obvious, but just in case: the bulb will become flat long before all the air is removed from the vessel. That is, it is not the case that the bulb deflates, say, 10% when you remove 10% of the air, and 40% when you remove 40% of the air, etc.
OK, so I removed 70% of the oxygen that would have gotten to my wine. Seems like a win to me.