Well, I've never really inquired to deeply into the reasoning behind the Council's actions. I think they chose Jessica simply because she was available for the taking, not with any real logic behind it. I mean, these are not the most rational, kind people in the world, and I doubt Jessica's upbringing and her experience, or lack thereof, would have made any real difference to them. As for Jessica's prospects now as a vampire: in some ways I think it can be argued that she is in a better place. Remember in Season One we saw that Jessica's father was abusive and that her mother was basically powerless and perhaps too weak to effect any change. Jessica's transformation into a vampire, although it was painful and has now separated her from the life she knew, seems to have given her the ability to fully explore life, without being timid and afraid. Afterall, it was her rebellion which led her into the vampire's hands in the first place: she mentioned that she had snuck out from home with a friend.
I think she will find a solution to her virginity crisis and so far she she seems to be living a good vampire life. Arguably then, Bill has created a life, because he afforded her the chance to live a much more fulfilling one.