Hi JP, what is your climate, warm, or cold and snowy?
In a cold climate, if you have your furnace in the basement along with water pipes it can be better to insulate the perimeter walls and allow the basement temperature to rise.
In most climates, the need for a real vapor barrier has diminished. Codes are now saying the far north and the deep south. All other areas the VB is less important. What is important is air sealing and you would certainly want to do that before adding insulation. One of the primary problem areas is the rim where the house rests on the foundation, cold air often pours in.