What is the equivelant of 1 teaspoon of vanilla extract in Organic Vanilla Bean Paste, is it teaspoon for teaspoon?
1 tbsp pure vanilla bean paste = 1 vanilla bean
1 tbsp pure vanilla bean paste = 1 tbsp vanilla bean extract

From experience I'd say the extract and the paste are equivalent in flavour.
The vanilla bean paste has the added texture of the seeds, which I prefer.

Of course neither of them leave you with a bean case to use as a garnish when your done creating!
We use both the paste and beans a lot!