I've tried that with flats and its pretty close and sounds like some P's i've heard but the classic P sound i have in my head it isn't quite there.
I would say that when playing live it would be difficult to tell the difference if at all.
For me the VM4 is a far better built bass with a fantastic neck. You also have the added bonus of going active if required using that humbucker gives a nice mid boost to the P pick up.
Dave