A metalbird bmp.to you.
I don't Vallee has published anything recently, but his best theory was that UFO's are not spacecraft or aerodynamic 'flying' objects, but a 'holographic' projection including mass from another dimension. The goal is some kind of social manipulation of human beings. Intelligence agencies have also been know to use UFO's for the same purpose. Two examples, the Lady of Guadalupe in Mexico in the 1500's and Joseph Smith's encounter with the Golden Beings could both be read as UFO encounters. Both of which have had profound sociological implications.
The evidence doesn't fit an extraterrestrial explanation.
I'll check out your electronic bliss deal.