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Sharc beat me as I was typing. Sounds like you took the leap!
A thought. You have a real solid shot at getting the VST to work using jBridge which "makes it possible to run 32bit plugins in 64bit hosts, 64bit plugins in 32bit hosts, or even bridging 32bit plugins to 32bit hosts, allowing to overcome the memory limitations of a single 32bit process". I use it with quite a few old plugs and it works very well although I have had it's engine "auxhost.exe" crash on occasion but it never crashed the DAW itself. There are options which can be tweaked to get it to work with most plugs and DAWs. And I see from Sharc's post that you may have to play with Cubase itself although I don't see why VST Bridge in Cubase itself do the trick (it's actually a separate program with it's own process, like jBridge's auxhost.exe so if it crashes it shouldn't affect Cubase). It doesn't sound like the Lexicon VST would use a lot of the memory, being hardware, whereas a 32bit impulse reverb VST can squeeze the 4GB max memory space for 32 bit VSTs. IMHO three pluses: it's hardware with a (potential) VST control and a Lexicon and 75 bucks, which is on the low end for an MX200. Maybe it's time to scratch if you've been itching!