At work, we have hundreds and hundreds of screens with a turnaround of 8 years for desktop computers, all with a mix of VGA, DVI, HDMI, and DP. We also have setups with projectors and splitters that require VGA.
With that in mind, the answer is: it depends on the quality and age of the cables, the screens, the adapters, the PCs, and the surrounding interference present. It can range from barely discernible with a quality screen and cable, to looking like a washed out drunken vision with hard drugs at the other end of the spectrum. Analog can be finicky.
Try it yourself, see if you can see or live with the differences or not.