Ok. Initial thoughts...
Fit and finish is superb. Balance is a treat. I don't have scales, so you will have to take my word for this. It's light.
Clean sound: I don't hear any compromises here. I compared it with my 2004, 3 band Ray. Sounds more like the Classic Ray I used to own. The two band EQ is subtle. Some great tones. Definitely a 'Ray. But that's not why you buy this sucker...
The Fuzz tone (Red): Sounds much better finger style. Harsh with a pick. That could be the pick, or more likely, my style (I'm heavy handed). Finger style for me, brings out the natural undertones. The flesh on my fingers brought out those undertones, with the effect being more of a pleasant embellishment.
The Overdrive (Blue). Takes it up a notch. Again, sounds better finger style. IMO. See above. I would use this to a lesser extent.
Early days. The blend is very sensitive, but in a good way. I will be more conclusive once I've reflected a little more, listened more to the nuances of blending and once I'm in the mix.
For me, first impression? Happy with it. Very much so. No buyer's remorse.
However, I'm pretty sure it will not be for everyone. I would wholeheartedly recommend trying it out before purchasing. It's a quality bass and comparable (or less) than the price of the latest specials. And I feel, the clean tone is certainly there.
I feel like I'm sitting on the fence a little and for that I apologize. Trying to be balanced with my feedback.