I've owned my Squier Affinity Jazz V since July 2008. It is an absolute JOY to play! I'm no expert by any means, but this bass is very cool and very well-built. I was lucky enough to get mine for $160 (GC floor demo, before Fender jacked the prices) and I couldn't be happier! It's worth even the $230, IMHO. I haven't yet had it set-up by a tech; it's as it came from the factory, and the neck is still as straight as I'd hoped. Sure, it's not SUPER straight, but it is very nice considering.
Sound: It doesn't "really" sound like a Jazz. It sounds awesome, but it's not "very" Jazz-like. What I mean is that it's a bit warmer than most Jazz Basses I've played. I don't know what it is; the strings (Ernie Ball Slinky) have been on since September, so that could be it. I really like the sound. It's like a Jazz, but with a little more low-mid. IMO, IME and YMMV.
Fit and finish: Top notch for the price. Again, no expert here, but I've had guys with 20+ years bass playing tell me this thing feels really nice. No sharp frets, action is medium-low (where I like it) and the neck fits right in my hand.
Hardware: The pickups sound awesome. In trying to remove the pickguard (pickups still in place) I encountered a challenge, but not a big deal. Tuners could stand to be replaced; it stays in tune very well (two weeks or more) but they feel kind of cheap.
Overall: A very decent bass. My first Jazz Bass and my first five string, and I've had nothing but positive experiences with it. I'd rate it a 9/10, just because it's not perfect and I'm not an expert.
I say, play it, like it, buy it. Simple enough my man!