Yeah, I see what you mean. Of course nothing beats an FM synth for bell sounds though.
It's amazing how simple the Hip Bass Drum is and that it has so many controls (even if some are very subtle).
I'm definitely going to build it for real when I have time.
Just for reference if someone finds this thread in the future, I'm posting an updated image of what it looks like in LTSpice now that I've figured out how to use pots and I fixed a connection that I had wrong in my first image.
I've played around with a similar circuit before. It's basically an oscillator with damping. It the components are changed to give a higher frequency, with less damping, it sounds like a bell.