THanks for the lead, scourgeofgod. I could find no signature but I did look at the inside label and foure handwritten on the Gretsch are the words "Custom 1-10" which means there might be 9 others of these out there, though I've never seen one. (Didn't notice the label before) Also written in skakey letters looks like the initials JW, which could be Jimbo Wallace. I"ll try writing to Walt and Jimbo and see if either can shed light on it. But the more i'm learning, I'm thinking I might have to keep this bass. It's pretty darn unique.
Hope others can contribute some leads that might help me solve the mystery.