Pedulla makes a darn fine instrument. That said, there are plenty of darn fine instruments made using nice woods, Bartolini pickups, and hardware from one of a few of the standard high quality manufacturers. An Alembic is pretty unique in that most of the hardware, plus the pickups and electronics, are Alembic.
As far as quality goes, IMO a "low end" Alembic compares favorably with many other high quality, high priced makers' "high end" basses. The same attention to detail and workmanship went into an Epic as a Series II. Alembic's filter based preamps are quite different than Pedulla's 2 or 3 band EQ, it may take a while to get used to but they are pretty versatile; the one tone that's tough to get is a mid-scooped sound, but in the real world that sound almost always = being unable to hear the bass player. The Epic is a bit different, it has a more normal treble/bass control arrangement. They're out of production, but are regularly on Ebay.