I personally feel like it stops too abruptly when moving from left/right or right/left. Maybe if it slows down towards the end it would feel better to me, kinda hard to tell. The other problem that I have is that the camera is "too high". When you do 1 full jump you can't see the ground anymore. That might not be a problem depending on the level design, but right now it makes everything feel like a blind drop. Other than that I think this could work.
PS: I've never seen/played Vectorman, so I can't really comment on the accuracy in that regard.