Oh boy… memories…
My first bass was a P Elite II that was being blown out by E. U. Wurlitzer, paid 300 for it in '84. Had no idea that the neck was a bit of an oddity (very thin and very wide, ~9" radius) or that the electronics and hardware were a bit much. I learned to play on the thing (way more difficult than it needed to be, in retrospect) and it was my one and only for 16 years.
I still own the bass but the only thing original is the wood and paint. (Don't get me going about the hardware...) It's still in my playing rotation. Zero regrets on the extensive mods.
The neck has held up well despite years of abuse and the paint job is pretty much indestructible. The implementation of the micro tilt is phenomenal. If you're ok with some excess weight, some over-engineering, and a less than orthodox take on the P sound, it's a worthy player. I see it as an odd duck in the history of the instrument.