Use Rhino3D V2 as an engine inside of the VB

Private Sub Form_Load()
Dim x,m
' we can get this from the registry but for now-> hardcoded path !!!!
x = Shell("D:\rhino20\System\Rhino.exe D:\rhino20\System\rhino2.ini", vbNormalNoFocus)
DoEvents or Sleep (2000)
'search for Rhino hwnd
m = GetAllWindows(0)
DoEvents
If m = "True" Then
  'put it inside of the VB form
  SetParent Rhino_hwnd, Form1.hwnd
End If
End Sub

or we can use FindWindow to find Rhino hwnd but static class name may be changed with new update or version of Rhino3D
FindWindow("Rhino Parent 4194304 Class", vbNullString) as of Rhino's V2. SR3

RHINO2.ini changes
[Main Window]
Maximized=n
Position=197,92,879,602
PositionResolution=1024,768
TitleBar=n
Menu=n
DockingToolbars=n
FullPathInTitleBar=n

All the project files can be found in here Download RhinoEngine

Thanks to Travis Serio for discovering this possibility.