You can replace VB code like this:

SELECT YourVFPCursorName
SCAN
   FOR i = 1 TO FCOUNT("YourVFPCursorName")
       cFldName = "YourVFPCursorName."+FIELDS(i)
       DO CASE
          CASE ISNULL(&cFldName) AND TYPE(cFldName) $ "DT" && Date "D" and DateTime "T" Types
               REPLACE &cFldName WITH {}                  
          CASE ISNULL(&cFldName) AND TYPE(cFldName) $ "NY" && Numeric "N" and Money "Y" Types
               REPLACE &cFldName WITH 1                    && (I don't know what is the difference between 8 and 7 types in VB)                                                       
          CASE ISNULL(&cFldName) AND TYPE(cFldName) $ "CM" && Character "C" and Memo "M" Types
               REPLACE &cFldName WITH ""                
      ENDCASE
  ENDFOR
ENDSCAN

or whith less code (I didn't say it is faster :o):

SELECT YourVFPCursorName
FOR i = 1 TO FCOUNT("YourVFPCursorName")
    cFldName = "YourVFPCursorName."+FIELDS(i)
    DO CASE
       CASE TYPE(cFldName) $ "DT" && Date "D" and DateTime "T" Types
            REPLACE &cFldName WITH {} FOR ISNULL(&cFldName) ALL
       CASE TYPE(cFldName) $ "NY" && Numeric "N" and Money "Y" Types
            REPLACE &cFldName WITH 1  FOR ISNULL(&cFldName) ALL                                           
       CASE TYPE(cFldName) $ "CM" && Character "C" and Memo "M" Types
            REPLACE &cFldName WITH "" FOR ISNULL(&cFldName) ALL                                          
      ENDCASE
ENDFOR