After two years , my opinions kinda changed a bit.
As opposed to what what I've said before , the presets are not very good. It's when you dig the beast that it's real potential comes out. Now I start from a blank preset wich have all my controllers preseted ( there is a LOT on the VB99 )and build from there.
I had the chance to try an VBass V1 , how can I compare .....

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I have a 2010 MacbookPro , it's like if I go work on a G3 ......
I only tried the COSM bass on the V1 but I'll go general ,maybe for other people who might be interested , if you have specific question , feel free....Others who tried both might join in.
Everything is better on the VB99. Lot more controller , and you can control almost everything. The integration with the FC300 is AMAZING for Live control.
The COSM bass are a lot better , the upright simulation are usable on the VB99 , it was not on the VBass. I still have the same perception about this , it's very much good enough to use in a band setting , in the whole mix , it sounds like an upright , but playing solo , it's not quite there yet.
With my real upright , i've been through the quest of finding a good pickup , I tried a lot of solutions , some good some bad , so I can say that the VB99 upright emulation played with a fretless sounds better than a real upright with a bad pickup !!!
Or that it sounds more like an upright than some EUB.
All the COSM bass emulations are very good. Blindfolded , in a Live situation , no one would be able to tell the real from the modeling.
I haven't had the chance to dig the synths of the V1 but I'm VERY satified with the VB99. I've tried the "analogue/pedal" and pitch to MIDI way and it is by 100 miles the best way to get where I wanted. Like I said earlier in this thread, the synth part is limited but what it does is "perfectly".
-The GR is very cool and flexible .
-The Wave synth (square and saw) is very nice too.
-The OSC is my favorite . It's a syb5 that actually works !!
I have a SYB5 ( I had lots of pedals before the VB99) and it is a SYB5 that have good tracking and more control.
From what I've read , it's the only synth that is not COSM , it's a convertion of some sort , someone might chime in on that , and the tracking is somehow different than the other COSM synths, it doesn't behave like the other synths , it behaves a bit more like the pitch to MIDI but with a better tracking and almost no latency.
Check this thread about latency of the VB99
I say almost because every digital processing unit (FX, converter , wireless) will induce latency.
-The Filter synth is my second favorite , very "Moogish" like.
-Bowed doesn't sound like strings at all. They should have gave them different name. With programming , you can get a "stringish" type of sound that will be more like a Mellotron. Very cool , but not if you buy that and think you'll have string per say you'll be unhappy.
-Pipe ; same thing , they should have give it another name.
It's another type of sound.
-Crystal ; to have weird type of sound. Very "ring modulator" type of sounds.
-Organ; It's OK , with some work you can get a Deep Purple'ish organ type of sound. Good stuff to add personality to a rock bass sound me thinks.
FX section;
there is a lot of choice , in general there is a perfect integration with a tap tempo and syncing in general and ALL the presets are controllable. Sky is the limit.
In total you can have 6 different chorus at once , 7 different delay at once.
My favorite are the 2X2 chorus in the MultiFX section , it's a X-over chorus , differnt setting for high and low and the Xover frequency is adjustable. Magic !
The MutronIII emulation; I have a Musitronics MuTronIII (not for sale sorry!) and I prefer the VB's.
With some programming (again) you can get an as good a sound WITHOUT the noise of the original and without changing the level.
The secret is to add a bit of grit to get the original sound.
The multi-band compressor is very usefull , gives a different type of EQ'ing.
You can EQ your signal at 10 different spots. Major flexibility at this.
Can't talk much about the amp section as I'm not into amps , it's always off. They look good enough if your into this.
I have a real B15 and the emulation is very good , again without the noise.
I haven't dig much of the Pitch to MIDI section as I've been burnt a bit in the past. The VB99 kind of fill all my needs for synth sound (for now) that I haven't checked out much of the Pitch to MIDI yet. From what I remember of my ex GI20 , it is on par and I had the impression that it is a bit better since the 1.02 update. One thing that is missing is the opportunity to On/Off the Pitch to MIDI with a controller.
Something I noticed is that with Pitch to MIDI you have to set the GK sensibility differently to have better results . You can make 10 different GK specific input level and assign them to different patchs.
The Editor and librarian are very nice .The USB integration is cool , you can Route the signal almost where you want , like send COSM bass A to the CPU and back to the FX while engine B goes out to the SPDIF and back to it's amp. Whatever. very flexible. And all this routing can be saved in each patch.
what else .... The way it's made , it kind of bugged me when I got it but not anymore. The fact that you put it on a stand will protect it and the FC300 is plugged with a single RJ45 cable.
Go for it. The best bass processor ever.
It replaces a Jazz bass , a precision , a MusicMan , an Hofner , a rick , a thunderbird , 5 or 6 synths , an upright , 4 multi FX , a reverb , a preamp , a SVT , a B15 , a 360 , a TE , a Fender Bassman , a USB interface and a Pitch to MIDI interface. SO for I $2000 with the pickup and the FC300 and a case , it's very cheap !!!!