I have one and am very happy with it. Not muddy at all. It has a very strong mid presence, actually. The bridge pick up is very bright with little low end. I use it more to add more brightness, much the same way you would dial in the bridge pickup on a G&L SB-2. Soloed, with distorion, gives a very guitarish sound.
The bass is very lightweight. I wouldn't say neck dive - it's more that the bass prefers to be paralell. Since it is lightweight it's not to difficult to control for me. A wide strap does a good job of keeping the bass in the position that I want it to be.
Mine is one of the limited edition "worn" cherry finish ones.