Well, no worries you guys you are correct. It is an active/passive switch. Switch forward, active. Back passive. No battery required. Personally I like the passive setting best, in fact I thought it was noticeable better. But that's with stock strings and no real setup, so grain of salt with that. The pickups and preamp are a little better than the old models version, but I think eventually I'm going to upgrade them.
Fit and finish is pretty good. The neck wood is a little darker than I expected, but still the looks are pretty good. Neck pocket is excellent, the neck is straight and feels like the last one. That's good, because the last one you could have used as a medieval battlefield weapon and the neck wouldn't need adjustments. It rarely went out of tune. Fretboard looks good. The tuners are decent, nothing to write home about, but nothing that needs replacing. It's lighter than the last one, not bad at all for a 5 string bass.
Overall first impression.....I'm very pleased. I think it's more bass for the money than most hanging in GC and the like. I have a feeling that once I get new strings and set it up it's going to punch above its price point, so to speak.
I hope you guys have the same results.