FWIW I agree with posters who suggest a split between Wellington (either one) and Wellesley (either one). I read long ago on a thread here that rebalancing between bonds and stocks is quite easy when you just invest new money or shift from the one of these to the other as the economy shifts. With the amount you are investing, I would assume the Admiral classes of these funds would be your destination, and I would remind you that with this class, already low expenses are even lower.
Sounds like lots of good advice here. I don't think you will go wrong.
I submit that there is not a BEST SINGLE Vanguard fund for everyone to hold in retirement accounts. There are several very good Vanguard balanced funds, but the best single fund for me may not be the best for you or the next person. The allocation I want or need may not fit your needs or the other person. The same goes for risk, etc. The fund choice is a personal decision.
I take it that you want to put all of your retirement into one Vanguard fund. That would be fine if your total is not a large dollar amount. If it is a large amount, I suggest you use more that one fund. Perhaps a managed fund and an index fund that together produces the allocation you desire.
Just another point of view.
In my so called rest home fund I have 60% Equity income (VEIRX), 20% Wellington (VWENX) and 20% Wellesley (VWIAX). My wife is 50% Wellington and Wellesley with all funds in Roths. I do not see a whole lot of future for bonds in my life time so plan in July to take 30% of wife Wellesley and put in one of Vanguard stock index funds.
VWELX/VWENX has been a good fund, long term and now it seems better being more a blend and with VWIAX would be a good core investment, along with some growth funds. I use some TRP equity funds, along with some bond funds for my port.
I have ETFs in my taxable post retirement account.