Vector Magic is… magical. It’s without a doubt the most user-friendly vectorization software I’ve ever seen. I’ve been using it since around 2008, and it’s only gotten better since then. It used to have issues with complex curves and lower resolution bitmaps, but they’ve really made great strides since then.
It’s also gotten a lot more expensive. I think my license was like $50.
That being said, for use on a design PC, it’s great. Super simple to input, adjust, and output. For designing cut paths, it’s amazing. I started using it for just vinyl cutting, but it works amazingly for laser as well.