I have both and I like both. To me, the active eq is just another tone shaping tool - just like your tone control, volume knob, where you play on the bass and your technique. I don't think there's anything inherently better or worse about active vs passive. I like the simplicity of passive for some things but I also really like the sound of my SR5. I think a lot of the problems occur when the active eq is overused - ie turned up all the way. I can guarantee anytime I play a musicman bass at GC or most other stores that the eq will be turned up all the way - 2 band, 3 band - makes no difference. It's the rental car radio syndrome. Whenever I rent a car, the first thing I do is make the EQ flat on the radio because there's about a 90% chance that the bass, treble and mids will be maxed.
Speaking of Musicman, there's tons of info on 2 vs 3 band, whether it's boost or cut or just boost, etc here on TB and on Musicman forums. IMO and IME the preamp and pickups are an integrated package and while possible to run flat they are really designed to be used with a little EQ boost or cut. I always find you need a little bass and mid boost and neutral or slightly lowered treble. That said I don't think it's a better or worse sound than my passive P and J basses - just different.
Speaking of Musicman, there's tons of info on 2 vs 3 band, whether it's boost or cut or just boost, etc here on TB and on Musicman forums. IMO and IME the preamp and pickups are an integrated package and while possible to run flat they are really designed to be used with a little EQ boost or cut. I always find you need a little bass and mid boost and neutral or slightly lowered treble. That said I don't think it's a better or worse sound than my passive P and J basses - just different.