There's more than just a clanky sound to this. Lots of "experts" say, boost the highs etc, but I haven't heard a single bass player on You Tube coming anywhere near the sound. There's something more, to my ears it sounds like a bit of an overdriven sound almost like tube amp, but don't think he uses tube amps anymore. Is it the 12 inch EV speakers? The nearest I can get to the sound when the flats on my sig. p bass are fresh, but they don't stay fresh long.
It's possible to process the sound via VST and post mixing process but then again it's not as straight forward as to plug in bass and off we go.
Anyway, Steve's bass sound inspired me to play bass.