Definitely want the drums to be there first. I think the bass player follows the drummer much more than the other way around. Frankly a lot of drummers don't really follow anyone - everyone else has no choice but to follow them, time-wise. Dave Matthews once said that Carter Beauford was the "Captain of the ship."
We bass players only strike notes with one appendage, whereas the drummer is using 3 or 4 different appendages, so it's easier for us to make minor time adjustments very quickly. The drummer is kind of time-juggling: throwing different limbs in various directions and pre-timing the desired result. But we bass players can focus on exactly when we move one or two fingers.