I'm in a transitional phase....
Cheap basses are a great quick fix for Bongo gas, but i have a lot mixed emotions lately. I presently own a MM, a Warwick, an 80s Fender - and a small stable of cheapos including - a Dan Electro, an SX, a Micheal Kelly and a Carlo Robelli. Not sure if the Micael Kelly would fall into the cheapo category though. They cost $500 new, and i really think it's a beautiful quality instrument. The reason for my mixed emotions:
the quality of the new cheapos as compared to 10, 15 yrs ago is amazing. the new cheap basses are solid, have great action, sound great and can be easily upgraded. my dan electro is one of the best sounding basses i've ever owned. the one consistent problem i seem to be finding with cheaper basses however has to do with the neck stability. i have to constantly adjust the neck, and i'm never quite sure what to expect if the temperature is really high or low in a particular club. i like my action real low, so i'm thrown a bit when the strings are suddenly another quarter inch off the neck. technically, that's my only gripe with the cheaper basses.
ethically, i'm starting to learn a little more about slave labor and the things people wrote about in the behringer thread i started. i don't know exactly what goes into the making of most of these cheap basses, but i think if ever plan on buying another i'm going to look into it.