I have a Galveston 4-string. It's basically a P-Bass knock-off, same everything as far as aesthetics.
I'm not sure what the real differences are...if real P-Basses have better woods/pickups or something? (they look/feel the same - I'd like more info on how to tell differences too if anyone can explain it)
Anyway, I considered maybe getting a new neck, or some different pickups, maybe new bridge, maybe even a re-finish.
Worth it?
No kidding? I modded the exact same bass -- Galveston P-Bass -- for my 11-year old son's birthday. He likes skulls, and the color black.
I got the bass for $80 on CL and it came with a practice amp. I did the following:
Swapped out the White pickguard for a Black-White-Black 3-ply, to complete the Black-and-Maple look.
Added a Badass II bridge -- he thinks it's really cool to have a bass that has "Badass" engraved on it.
Added chrome Skull knobs with red glowing eyes.
Added a Skull-themed strap.
The bass plays well enough that I am going to also add a new pickup and electronics. I used it at rehearsal once and it sounded pretty good. The neck seems decent enough, and it is resonant.
The project wasn't for me, and I would not have done this for myself. But I think it's turning out well, and it's not a bad instrument. I say, go for it on one condition: USED PARTS. Then if it does not turn out well for you, you can resell the parts and have not lost much.