Actually i liked this bass in the old days. 
Simple and tweakable.
Thank you Steinberg.
Now,if you could bring back Virtual Bassist and Virtual Guitarist…
And Hypersonic too, please! 
Is VB-1 not available anywhere in Cubase 6.5? Is there any way to obtain it?
Yes, for free even and as 64bit check out VST Classics Vol. 1 package.
Other 64 bit legacy goodies are in the VST Classics Vol. 2 package.
Can the new Steinberg Electric Bass simulate the VB-1 psytrance bassline-like style?
I am considering buying it as an alternative for the “old” VB-1.
Help would be appreciated as there is not demo version of Eletric Bass.
Thank you