I absolutely love the stuff. I really do- especially on Fenders. I've got an '86 MIJ Precision with an EMG P pickup and a basswood body, and that particular combination, along with the dead rounds I'm using, sounds glorious. The low end presence is phenomenal. Even when the tone is wide open, the bassiness is still there, along with this really great rubbery-wooden kind of sound. There's also a Youtube video hovering around (http://www.youtube.com/watch?v=jGyrGTuMhzo
) that compares Jazz basses of various origins and compositions, and the basswood one again has this tremendous woody sound to it that I just love.
(Disclaimer: Please don't string me up by my britches for my love of this wood! Of course, every wood has its place, I just happen to like this one in these two instances.)
So what do the sages of Talkbass have to say about the humble basswood? Yea? Nay? Sometimes? What say you?