The problem with using VISA is that you'll have to manually construct the Modbus protocol for your commands (have a look through some of the information at www.modubus.org to get a feel for what this involves). While possible, this isn't a trivial task. While OPC by itself may be slightly more complex than VISA, you'll save a lot of complexity because it implements the Modbus protocol for you.
If you decide to go the VISA route, I wouldn't reccomend starting from scratch. There are a number of libraries and examples out there, both free and commercial for doing Modbus communications with LabVIEW. I'm not personally familiar enough with any of them to recommend one, but I can point you at a couple of possibilities:
One of NI's alliance members has a product called BusVIEW:
http://sine.ni.com/apps/we/niaa.ind_pro_view?p_all_id=4954&p_display_all_id=8929
A couple of similar forum postings with links:
http://forums.ni.com/ni/board/message?board.id=170&message.id=71682&requireLogin=False
http://forums.ni.com/ni/board/message?board.id=170&message.id=78977&requireLogin=False
Hope that helps,
Ryan K.