Valleycom is still alive and kicking; quite well actually. I'm at my parent's house right now, and I can look out the hill and see VC's tower (they don't simulcast the trunk from there; I'm not sure why not).
But yeah, they basically dispatch all of the FDs/PDs south of Seattle. You can see a complete list of everything
on their website, valleycom.org.
One other thing--the 800 trunked system is co-owned by the City of Seattle, EPSCA (Eastside Public Safety Communications Agency), and King County/ValleyCom. Dig around and you can find all sorts of info about it--including information about their board of directors, how voting privlidges are assigned, and so much more.
I can't remember where the thread was--either here or on INW--but VC wants to turn off the VHF simulcast. The only reason it's still on is so they can tone out one of the FDs (Kanaskat/Palmer). Rodentkj could tell you a lot more about that.
There are also a few other VHF frequencies that they are still licensed for. If a certain rig's 800 equipment wasn't working and they had their VHF stuff with them, they can request VC to patch it--then they'd hear anyone talk on the corresponding channel on their VHF radio, and everyone else with a trunked radio would hear them transmit from their VHF rig. I belive the patch is turned off unless it's requested, which is good because they don't want rogue radios on the system.