I've never owned a Kay, but here's a link to a site others have recommended as the place to go for Kay bass info...
http://www.kaybass.com
Check out the newbie link sticky at the top of the "Setup & Repair" section for info on bridges and the one at top of the Amps, Mic, and Pickup" for pickups. Then come back with more specific questions about pickups and people will be better able to help you with advice.
How high is "really high off the fingerboard" ? (measure mm at the end of the board to the bottom of the string, and BTW thanks for not saying "fretboard"... you've already avoided a bunch of trouble

). Most folks have string height gradually increasing as you move from the G to E to give the larger strings more room to move. Of course the type of strings and your playing style (amped or not) also figure in.
My advice is take it to a luthier to get the bridge height trimmed down and you can also have them check whether everything is holding together (neck joint, bassbar etc... )
Luthier directory...
http://www.gollihurmusic.com/luthiers.cfm
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