Can't say what VP will offer in the future, but it's likely that the voice-to-text feature will be improved.
As for on-line apps, just upload your video file. No need for VP at that stage.
With 'Happy', after processing there's an option to create an SRT file, which then can be imported into VP or a viewer like MPC-BE.
In VP drop the source video onto the sequence, then click the SUBTITLES button on the toolbar that's under the HOME menu.
Click FILE in the subtitles menu bar and LOAD SUBTITLE FILE. Find the SRT and import it. Under the Format tab font, alignment, color, size changes can be applied.
