We report on our analysis of a 300 ks observation of the Vela pulsar with the Rossi X-Ray Timing Explorer (RXTE). The double-peaked, pulsed emission at 2 - 30 keV, which we had previously detected during a 93 ks observation, is confirmed with much improved statistics. There is now clear evidence, both in the spectrum and the light curve, that the emission in the RXTE band is a blend of two separate components. The spectrum of the harder component connects smoothly with the OSSE, COMPTEL and EGRET spectrum and the peaks in the light curve are in phase coincidence with those of the high-energy light curve. The spectrum of the softer component is consistent with an extrapolation to the pulsed optical flux, and the second RXTE pulse is in phase coincidence with the second optical peak. In addition, we see a peak in the 2-8 keV RXTE pulse profile at the radio phase.