I'd like to preface my comments with the statement that I love a Precision, and own a couple, but I have discovered that in a live setting I REALLY prefer the sound of a Jazz Bass strung with flatwounds to a Precision similarly strung. It's a much more focused bass tone than its Precision counterpart. On the other hand, a Precision strung with rounds feels fatter and more satisfying to me than a similarly strung Jazz, which in that case seems a little thin to me. I'm talking about stock Fender MIA here. Once you start switching out components (other than strings, of course) all bets are off.