Will VB3-II for iPad replace VB3m?

No, VB3-II and VB3m remain two distinct products aimed at two different audiences. 

Musicians who only use mobile devices will still have the opportunity to chose VB3m which is inexpensive, sounds great and offers all the basic features for a great tonewheel sound on the go (VB3m also runs on iPhone and Android devices).

VB3-II, on the other hand, is dedicated to musicians who mostly produce on Desktop computers but occasionally go on stage with their favorite virtual instruments.