I have a VB-2. I have had it awhile but it is at my drummer's house and I only really get to use it during band practice hence I don't get to mess with the settings much. I will tell you with the eq flat it does not really come close to the flat setting of an SVT. This is not to say that you can't make it sound similar with eq, but to me one of the most amazing things about an SVT is it sounds amazing flat and as you eq it sounds better.
The VB-2 set flat sounds sort of boring. Luckily there is an EQ and as you adjust it the amp comes to life.
On one post Bobby mentions that the amp was built so that it could mimic an old masterless amp by turning the master almost all the way up and then slowly turning the pre to the desired volume. Personally, I love this setting and it gets a lot closer to the chunky tube sound I was hoping for when I bought this amp.