Traveled from Hanoi to Ho Chi Minh City in 2.5 weeks a couple of years ago. Year of the SARS outbreak. Dirt cheap hotels cos there was no one about. Favourite place was Hoi-an as seen in the film The Quiet American. Halong Bay is definately worth a visit.
I thought it was dead. But in the comments Stevo seems to imply they are going to redesign it. So dead in its current incarnation soon to be reincarnated.