In this paper we further progress the analysis of the recently introduced multi-valued argumentation frameworks (MVAFs). MVAFs are an extension of Dung's abstract argumentation, where arguments have a degree of truth associated with them. Here we describe a list of properties of MVAFs considering the major multi-valued logics such as those proposed by Gödel, Zadeh and Łukasiewicz. We then propose a computational framework that joins multi-valued and probabilistic argumentation frameworks to handle situations where arguments affected by vagueness and/or probabilities coexist. The findings are a contribution to the field of non-monotonic approximate reasoning and they also represent a well-grounded proposal towards the introduction of gradualism in argumentation systems.