"Что вы!" по своему значению больше похоже на "really? indeed?" In this content they are synonyms. It is a kind of intejection that expresses emotions of a person who is speaking.

First is cut form of "what do you think that"/"how do you rate/apricate that", often used for asking condition of a man after some event. The second is exclamation, interjection with denial. Often used after "нет" (no) and with conjunction да (but). It allows you to immediately determine the attitude of the speaker to speach that he heard or rarely action that he see by accompanying intonation, but it isn't a parasite of speech.

Ну и как? مليهاش ترجمة مباشرة Ну и как? тебе нравится этот отель? ممكن تقوليها: طب, انت بتفكر في الفندق ده ازاي؟ او طب,هل يعجبك الفندق ده؟ Что вы! نفس الحكاية، مليهاش ترجمة Что вы! это не метро. يعني: مترو ايه؟ ده مش مترو

1) Something like "So, how is it?" (Sometimes it's said as "Ну как тебе?") 2) It's kinda like a shorten version of "Да что вы такое говорите!" ("What are you saying/talking about!"). It's widely used.