i've had my 55-01 for about 2.5 weeks now, so i won't comment on long term reliability.
it has replaced my american jazz as my main bass, and not just because i wanted a 5 string. the playibility is outstanding, it stays in tune like nothing i've ever played before, and sounds great. it's the only bass i've ever purchased that hasn't needed any set up work when i got it home. so far, i've changed the strings to elixer nanoweb (personal preference) and changed the battery to a duracell (cheap battery that came with it was fine, i just like to know i have a good battery).
i've hauled this thing around the area already, and it's surprised me more than once. i've driven 20 miles to a band practice, set up, went to tune... didn't need it. 6 hours later, i check the tuning again... barely out... my fender has never done that. i did a recording with a friend of mine with the lakland, and was very pleased with the whole experience. jam sessions with other friends of mine... no problems whatsoever.
the 55-01 is quality, for sure. i'd definately rate it as high or higher than my american fender jazz(wich has no problems, either). the only complaint i've ever even heard of was the bartolini pickups/preamp, and i don't see why anyone would complain about it.