So I have a lot of indirect experience with this. What that means is I haven’t set it up myself but I’ve worked on a lot of rigs that have this setup already.
Here is the long and short of it. You can sync PT to Cubase but it doesn’t work nearly as well as syncing PT to PT or Cubase to Cubase. You have to use a combination of MMC and MTC and there are a lot of posts about how to set that up.
You also don’t need MIDI over LAN but you do need some sort of midi connection either over LAN or using an old fashioned midi cable.
That being said it’s not great, you have to constantly go in and out of external sync mode in cubase which isn’t the end of the world but it could be better.
That being said, I have use Video Slave 2 on a mac running cubase at the same time. It definitely works and is easier to setup than using the PT option. That being said there are some drawbacks. For one, you can’t rewire the audio back into Cubase which means the only way to control the audio out of VideoSlave 2 is with an external mixer or your mouse.
It also can really tax your GPU. We had to end up getting a more robust graphics card to handle three computer screens running VS2. One for the sequencer, one for the mixer, and one for a TV that VS2 full screened to.
I’ve personally emailed them asking for Rewire support and they said it was something they were looking into but haven’t implemented it yet.
Hope that helps!