DJ - yes, it sounds like you need new shocks.

Check to see if the ones you have show any signs of leaking, particularly at the top near the remote reservoir. That's a sure sign that they are blown, but you won't necessarily see any leaking.

New VX shocks are very expensive (like $450 each, last I checked), but Rancho and Bilstein have some excellent and cheaper alternates ($50 - $75 each).

Good luck!