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Debbie,
I can't speak smartly to the number of BSM's awarded in Vietnam, although I am of the same impression as you. I will state that the BSM is the combat equivalent to the Meritorious Service Medal, and so using that analogy, I wouldn't necessarily describe the BSM as being "over" awarded. However, you do end up with a slightly perverse result in that an Army Commendation Medal (the next lower award than the BSM) with a "V" device is actually a higher award in my mind, since it was awarded for specific events for going above and beyond in terms of bravery. Thus, there is quite a distinction for me between a BSM and a BSM with "V" device.
I hope that I cleared things up a bit, and didn't just muddy the waters.
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"So little pains do the vulgar take in the investigation of truth, accepting readily the first story that comes to hand." Thucydides 1.20.3
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