Yes, thats it indeed! 
You can also leave the VST-XML translator out and just use the “Show in Explorer/Finder” functionality of the Medi Bay. The method to drag and drop a sample to a VSTi by combining the MediaBay and OS features is quick, simple and there is no 3rd party application as the VST XML translator needed.
This gif illustartes how easy it is:
This is what is happening in the gif:
For Windows there is also the taskbar method:
Set you VSTi to “Always On Top” then–>
-
- Search for the Sample in the Media Bay
-
- Right click on it and choose “Show in explorer/Finder”.
-
- Drag the sample to the windows taskbar onto the Cubase task so the window highlights again, do not release yet, and when the Cubas window is highlighted then drag to your VSTi and release.
On Mac OS X you can look up the samples in the MediaBay, choose “Show in Finder” and drag the files to the VST. You must however make sure that the windows are highlighted correctly and that they do not cover each other up.
Gr,
JHP
Edit:
Thread continues here:
Mediabay–>Explorer/Finder–>VST Drag N Drop