Just got one last night. I had owned an early 60's model that I gigged with for a few years. The new model is, so far, a mixed bag for me. To start with, it is way overpriced in my opinion. It's about equal in quality and construction to one of the Hofner Icon basses that run now in the $300-400 range. I got this one for a little under $500.
The body and neck have a slick, glossy finish that looks nice, but very different from the originals. The weight is about the same, and the balance feels similar to the original. The neck profile and feel is much different from the 60's models, and doesn't have that solid chunky feel, plus it is tapered on the new model. The fret finishing is better on the new model, but I had to use a fret-leveling file to get the high spots out above the 12th fret.
The tuning machines are better than the originals, but they are junk. I am replacing them with some Hipshot licensed imports. They should have simply used kluson machines like Danelectro did.
The pickup to me sounds the same, with the same output and timbre but the tone switch does not change the sound much compared to the original which is kind of odd. I do recommend a set of laBella flatwounds for it (long-scale due to distance to the tailpiece).
The bridge is not as as good quality as the original, but I suppose it will be fine.
The tailpiece is my biggest gripe-instead of the heavy, well-engineered one piece tailpiece of the original, the reissue is a crappy block of wood that is already pulling up from the body, covered by a cheap chrome cover. I couldn't even get the original strings out of the wood block without using an awl. I installed the new strings using inexpensive screw ferrules as washers. Dumb design, and sure to cause problems as time goes on...in fact the tailpiece of the original was (along with the pickup) one of the truly well thought out parts of the design.
Would I buy this (the reissue) again? Nope. On the other hand, it is about 75% of the experience of owning and playing the real thing for $300 less. A far, far better instrument that has a similar sound for $100 less is the Epiphone Allen Woody-every single detail is high quality, more durable and has a better overall feel.