When you're using VLOOKUP(), there's a concern with the col_index number (highlighted in red):
The problem is it's a number - not a range reference - so, for example, if you were to insert or delete column B on that sheet, your VLOOKUP() formula would return the result from the wrong column (it wouldn't adjust).
Using the INDEX/MATCH combination works around this problem. The formula can also be more easily extended to become a double or conditional lookup. Of course you can do the INDEX/MATCH all in one formula if you want to; it would look like this:
The small points doing it in one formula are that:
[i] There's a small performance impact compared to the VLOOKUP() equivalent. I think on Charles Williams' site he estimates 5%. If you are looking up more than one value from the row then this impact increases. By using two separate formulas this impact is not a factor.
[ii] The formula is quite long so perhaps it is harder to read, digest and maintain than the two separate formula combination I tend to use.
[iii] Worksheets are large: don't be afraid to use a helper column.
If the data in column A in the lookup data is sorted, then there's an even better way of doing it.