I've never played one of these with the stock pickups -- only one I've ever played is my Power Jazz Bass Special and it came to me with EMGs and passive controls (vol/vol/tone/tone, 3-way selector switch). The EMGs stayed in it for more than twenty years. In the last few years, I've experimented a bit with passive pickups. Right now, I have a Wilde P/J set in there with 500 K pots. Love the sound, but I have some hum when I'm not touching the strings. The pickups are supposed to be very quiet, though (believe the J is hum cancelling), so it might very well be the wiring/installation. I'd describe the sound as clear, dynamic (doesn't squish if you hit it hard) with deep but not hyped bass response and clear highs. One the modern side, but not so much as the EMGs were.
As I said, I've never experienced the stock pickups or TBX circuit, but if someone is looking for a good, moderately priced set of pickups to try, the Wilde are worth a look.
I do love the feel and response of my bass.
Addendum: The bridge tone control (as long as I had to change pots, moving from the EMGs) is now a push/pull wired to put the neck/bridge in series when pulled out. I don't run it this way most of the time, but through certain rigs it's nice. There's an SWR/Ampeg rig at one jam where I play and the house player (friend and great bassist) plays an active instrument and EQs the amp in such a way that my bass sounds thin and ganky through it. I've gotten good at tweaking the settings in a few seconds for my bass and putting them back when I'm done, but putting the pickups in series brings the output up to hot(ish) active levels and brings the mids up and treble down in a way that works really well with that rig in that venue in that mix. Thickens things up, and I don't have to touch the amp. Through my rig, most of the time, it's too much, but I like having the option.