OK, so it seems there's two schools of thought regarding fretting fingering. There's the one-finger-per-fret crowd (1-2-3-4), and the 3-finger people (1-2-4). (I reckon there's another group - the 1-thumb-per-fret punk crowd! Just kidding...)
The Ed Friedland book I'm working through promotes the 1-2-4 fingering, while the online StudyBass course pushes 1-2-3-4.
I see a huge benefit in 1-2-3-4 fingering. I can cover 2 octaves on a 5-string without changing hand positions. It makes sight reading easier for me, too. To me, using 3 fingers is like telling a keyboard player that he can't use his ring finger.
I can also see benefits in using both positions. For me, it's tough to use 1-2-3-4 near the nut, where the frets are further apart. So, perhaps a hybrid approach is best. Perhaps even occasionally wrapping the thumb around has its merits.
Comments, suggestions, experience, ideas regarding the two techniques?