Thanks, jmlee and I also appreciate the pm about your post.
It's been quite awhile since I posted and I wound up taking the plunge and putting an MK4 in the neck position. I left the bridge MK1 since I was very happy with that sound, but in retrospect I should have changed both just because there is such a huge difference in output.
Since I only changed the pickup and not the pre-amp, I can shed a little more light on the specific differences - to my ear at least.
As I said, the first thing I noticed was a huge increase in volume. The second improvement was that the treble frequencies sounded smoother and more elegant. This was what I expected from reading other threads and exactly what I was hoping for. Mission accomplished.
Other than those two things, I didn't notice any other significant change. I definitely consider the improvement to be worth the investment.
The P bass comment made me smile. I have felt that way about the SRX basses from Ibanez - the neck pickup is a P type flavor and the neck/bridge together sounds like a J. Not exactly of course, but enough that they accomplish the same goals in the mix - P to blend in with the mix and J to push through with a more mid range sound.
I've been happy with the 700, I just never have been able to fit its sound into the music that I play (mostly oldies covers and original music). It sustains foreeeeeever. That would be a good thing in some types of music, but I just constantly found myself trying to mute a string or just getting a tone that didn't fit. (Ya can't play Motown with tons of sustain). And even though I generally don't like flats, I had to try and tame it a bit and put some on this bass. Wow. Now I really love it. Imagine that tiny neck, light body and strings with no resistance. It's the easiest thing to play imaginable. And for what I do, it gets more use strung up this way.