We revisit the experimental and theoretical status of B→ρlν¯ and B→ωlν¯ decays. We perform a combined fit of averaged spectra from Belle and BABAR measurements with prior light-cone sum rule calculations in order to obtain more precise predictions over the full q2 range. The extracted values of |Vub| from these combined fits exhibit smaller uncertainty compared to previous extractions from B→ρlν¯ and B→ωlν¯ decays, and the central values are found to be smaller than values extracted from B→πlν¯ or inclusive measurements. We use our fit results to obtain more precise predictions in and beyond the Standard Model for the lepton universality ratios R(ρ) and R(ω), as well as several angular observables that are sensitive to the full q2 distribution, such as the longitudinal polarization of the vector meson, the τ polarization, and its forward-backward asymmetry.