Your right, not one click, not counting scrolling and voice prompts.
Typing in a V word is a minimum of 3 touches (clicks), more if you have an old phone. I don't want to split hairs on which way is quicker. For this discussion I agree with you as they are "equal".
(Side note, when I am showing how Voice Keywords work on my very old, outdated phone, I type in 46800 to show them, instead of going to the contact, it is 9 presses before I type the Voice Keyword. It is done fast and it makes it clear.)
Glad we agree that " Either way, then we have a process that is equal in steps. Frankly, doesn't seem like there's any steps/time to be saved by going traditional over Vanity keywords."
One process is a V word in an address book, the other process is using a V word as a Voice Keyword.