Yeah, and it's also fun to note that in French, the letter W is pronounced "doublay-vay", literally, "double V" (since the letter V is pronounced "vay.") Make it more confusing that "vay" in German equates to "W" with V instead being pronounced "fow." In typical English fashion, the worst of both worlds was chosen between the Romance and Germanic languages.

The common origins of the letters U and V helps explain things a little, but a little housecleaning is in order for English. Unfortunately, since broken English is the official language of the entire planet, I think changing things at this point might be a little difficult.