There were several reasons that Mel gave for using vermiculite instead of perlite, but the only one I can remember is that it holds water better than perlite.
And yes 1/3 of the mix is supposed to be peat moss or sphagnum moss. Peat is readily available here.
Yes !
"vermiculite..is that it holds water better than perlite."
and Perlite is sterile, and is beneficial to seedlings, adding to soil porosity, and soil friability.
So it is win /win !!