If your time is at all valuable to you, I strongly advise not depending on the airline for anything. Book your own hotel immediately; don't wait for a voucher. Arrange your own transport to your destination; don't wait in an hours long line. You may be able to get compensation later, but the important thing is you'll have a place to sleep and arrive at your destination long before you otherwise would.
Case in point.. a few weeks ago, I was flying Delta from their hub in ATL to my home city, about 300 miles away. There were flight cancellations due to severe weather all evening. The lines to speak to agents were almost as long as the entire terminal. Lines were 20-30 people long even in the Skyclub.
My 9pm flight kept getting delayed, and delayed, and delayed. It was finally cancelled at 12:30a just as I was about to board. Rather than wait in a line for a hotel voucher, I brought up my Marriott app and booked something myself. When I got to my hotel, I saw that Delta had auto-rebooked me on a flight leaving the next night. So I rented a car from a suburban Hertz location (all the cars at the airport were gone). In line at the rental car place the next morning, I talked to several people whose flights were cancelled. By the time they'd waited in the lines, all the hotel rooms were gone and they had slept on the floor at the airport.
I arrived home around 5pm, 3 hours before the rebooked flight was scheduled to leave (and yes, it was delayed). Delta refunded me for that leg of the trip, which just about covered the rental car.