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Fiver vs.... Fiver...

I think you would have more versatility with the Jazz, not that the Sub can't do everything you mentioned cause it can. I would also consider a used Lakland 5502. I agree with puremusic, feel of them is going to be different and if you have not really spent time on a five that can make a big difference. My first 5 was a Stingray and it sounded great but I could never get on with the feel.
 
I would personally keep looking if those are your 2 fiver options. The 4 string model of both those basses are fine but they both have poor B strings in my opinion. You will find they are both loose and have nasty overtones around the 5th fret onward.

The B string is a tricky beast and not too many manufacturers can actually tame it.

I cannot speak for the Lakland, I have only seen 4 string Laklands personally.
 
Not trying to be a wet blanket, isn't the 55-02 a little above the price range compared to the basses the OP asked about? Even used, I would guess a couple hundred higher. I dunno.

OP: Read through this thread-

http://www.talkbass.com/forum/f8/schecter-diamond-p-5-nbd-949542/

A large percentage of the owners of these basses love them. That can be said of a large percentage of the posters on TB, but the Schecter Diamond P5 is currently the best bass value, dollar for dollar.

Yeah yeah, of course IMO.
 
I don't particularly like the active Squier. The tone isn't as nice as the lowly Affinity Jazz V. I have one of those which I love (with a Hipshot bride upgrade). I gave the Deluxe V I had to a friend's kid.
 
The 4 string model of both those basses are fine but they both have poor B strings in my opinion. You will find they are both loose and have nasty overtones around the 5th fret onward.

This has not been my experience.

I'm really not sure why you guys would try to push a guy looking for a $300 bass into a $1,500 bass unless you are getting a commission on the sale. The Diamond P make a little more sense, but at $500, it is still 60% more expensive.

I will say that, generally, if you are looking at a $300 bass, getting a fiver is an "iffy" proposition. Getting an active bass is a gamble too, because the electronics will definitely be victim to corner-cutting.