hi Beach Blues,
I'm sorry to say that I'm not in a position to answer your questions having neither played the Victor Bailey signature bass, nor having done any study into 'high end wood' - I'm not even sure how you'd categorise such a thing.
I will state the obvious by saying that any bass you buy should be on the merits of that bass, not the label on the headstock, signature or otherwise...
you'll have better luck asking in the 'basses' forum for the first question, and the 'luthiers' forum for the second.
Here, we tend to be dealing with questions relating to solo bass playing/more obscure approaches to the instrument and questions relating to new ways of studying the bass, employing it in non standard settings, improvising etc...
cheers
Steve
www.steve-lawson.co.uk