No ideas on pencil-lead basses here

But I might throw in the idea that you find a smaller, maybe even a 1/2 size, if you can, and then definitely spend a little extra cash to get it set up properly. The reason I recommend the smaller bass is that it would be more widely usable by people of incomplete stature as well as those considering the leap from Slab, and the setup recommendation so that students aren't turned away from the instrument by having their first Bass experience on something unplayable.
Also, if you're considering graphite because of the maintainance issues, then I would add that plywood basses, with reasonable care, tend to be pretty low maintainance.