Grateful Dead Records (London, England) did release this on vinyl. It is somewhat tough to find, but I have had a couple of copies. The vinyl is not heavyweight, and the sound did not blow me away. The music is killer of course.
I have been looking for Two From the Vault on vinyl for years and have had no luck. Apparently that was officially released, as well. When I first saw One From the Vault at a record show I assumed it was a bootleg. I contacted GD Merchandising, and they confirmed it was, indeed, an official release.
If anyone has Two From the vault on vinyl, let's talk!
-d