As for running on pavement with no shock absorption, your feet are the best shock absorbers in the world! with a little strengthening you can give em' hell and they will thank you for it!
VFFs do not suit my Mortons Foot shape, I have worn Terra Plana's for the last year and Puma H streets for several years before that, I'm now wearing Merrel foot gloves.
I get Speedo water shoes and rip the liners out of 'em. Kohl's has them on sale all the time plus their usual discounts, so $8-15 a pair, depending. Light as a feather, all knee issues, shin splints, gone. Feels great.
I would look into a barefoot shoe like a Merrill or Inov-8. Also, to where a shoe like this you're going to need to learn proper form. POSE method of running teaches you how to run correctly. However, it will take a while to strengthen your lower legs and such.
I made the switch from conventional shoes (Brooks Defyances) to a pair of huaraches from Xeroshoes about a year ago and I've never regretted it. You absolutely have to take your time adjusting to them and basically relearning how to run, but it is absolutely possible - I was able to complete a half-marathon in a pair this May.
I've been researching the barefoot shoes myself. Going completely barefoot is a nice idea, but it gets into the upper 100's where I live and that doesn't feel bueno. I'm thinking about the Merrill's because they don't look as goofy as the vibrams.
I bought a pair of VFFs and found they made my feet ache very quickly when walking. I then bought some with a bit more protection underfoot which were far more comfortable so wore those until I became used to walking in them. I have spent most of my life in thick soled trainers so was quite a shock to the system!
I have been reading up about the Pose Technique and this makes running in VFF's so much easier.
Before I 'went Paleo' I purchased a pair of MBTs and wonder if running in those using the Pose technique on pavements would be beneficial. ??
Jury is still out on that one!
I'm not a complete idiot! There's parts missing!!