I haven't found a VM Jazz or Precision yet that had any issues whatsoever, other than set up and tuning. And the tuning was a snap to remedy. One shop even let me setup the bass to my liking to try!
I am aching to try a CV Jazz, as soon as I hit Milwaukee again I will. Or some bigger town than here that has more than one small (albeit good) shop with a limited bass selection.
I have played several MIM's that were just fine, a few that were great and one or two that, well, they needed some help with issues I'd think the factory should have caught. Though none of the issues would have stopped me from buying those basses and fixing them up.
Now, the biggest difference I find between the VM Jazz and an MIM Jazz are the body woods and pickups. The Duncan Designed pups are a different animal from the stock MIM's. Both great, but the Squiers, I feel are a much better pickup, quieter but ballsy.
The MIM pups have a great tone though.
The biggest deal? I feel the Squier VM's are a very equal quality to the MIM's,
and since I cannot get a blocked and bound (even if it is paint, or not) on an MIM, I bought the Squier. And to get what I want, I would buy another Squier and repaint the silly thing before I'd settle for an MIM with a neck I didn't want.
Where the Squier absolutely shines, is the quality for the price difference. As far as I am concerned, the VM's could be rebadged and sold as Fenders and be wildly accepted by the masses (or at least some peeps here....

) and ditch the stigma some have with the headstock name. But then Fender would probably crank the price on them then. Forget I said that.
Hey FMIC! Squier VM and CV series stink, horribly! Drop the price as they stink and are over priced!!!!
(just in case they read this stuff....)