I think to utilize Veron most effectively you have to play him in one of two roles:
1) A completely free role - just roming the field anywhere he wants. Exactly what it is, a free role. Also, being the main offensive machine in the team . He played this role in Estudiantes, Boca, and even Parma. Maradona described his position as "everywhere" (when playing with him at Boca).
2) A libero/defensive half that purely distributes. Just hang around in the center of the park and receives balls out of the back and starts every attack with his pinpoint passing. Also, suprisingly enough, he is (can be) very effective defensively. He played this in the '98 world cup, and a slightly more attacking version in the past world cup. Also at Lazio and Sampdoria (under Sven Goran).
I think one major problem with Man U these days is Ferguson himself. He has the "Pat Quinn" (a hockey coach/manager) disease as I call it. He spent 28 million or whatever on Veron and seems to have no clue how to use him and puts no effort into finding out. Nicky Butt is preferred to Veron in all aspects it seems with Ferguson. Nicky Butt hussles and gets in hard but has 0 offensive abilities. Veron can hussle and get in hard and is one of the most gifted offensive players in the world.
I think if they form the team around Veron's play they would have a much better chance at winning the premiership/Champions League.
Ferguson should have the same approach to Veron as Eriksson, "A lot of people, however, told me that it would be wrong to limit Veron and his fantasian, forcing him to take on overly precise tactical requirements. So I think I will give him whatever number shirt (because he plays the number 5 (DM) role for the Arg. national team) and tell him simply to go out there and do as he prefers."