Yes, Vd. is not used "in the spanish streets" but in the university, speaking to Doctors and Professors, we use the Usted verbal form, for "politesse". That is in Spain but in Latin America, the Vd. form is sometime use as the "tu" or "vosotros". I think that in Argentina they still use the "Vos" form too. In spain, a report is called a "informe" and in latin america a "reporte", and so on...

We understand each other, as american british and australian, but we don't use the same vocabulary.