If anyone is considering working on this (VGM support for Verge), please, tell me.
It came to my attention the following thread:
http://www.smspower.org/forums/viewtopic.php?p=61901
And the source code for a VGM player (apparently for specific hardware):
http://luis.net/projects/duinodemo/demo_platform.zip
And the VGM file format here:
http://www.smspower.org/Music/VGMFileFormat?from=Development.VGMFormat
And finally, MGME: A Winamp input plugin for SPC/VGM/HES/AY/NSF/NSFE/etc formats. Based on Shay Green's Game_Music_Emu emulator library.
http://www.mudlord.info/res/apps/in_mgme.zip
Rafael, the Esper.