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Memphis basses

Whats the deal on Memphis basses, total junk or worthy of consideration as a low cost bass? Are they MIJ? Heres a couple I've seen that look cool:
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My first bass was a Memphis P. It was built of incredibly heavy plywood. Bridge tuners and pickup were ok. The neck was old style precision as in CHUNKY. Sounded fine but very heavy and not what I would call easy action. Unless very cheap or free I'd pass as the current crop of cheapo basses are better quality than mid 80's Memphis stuff. I think mine was Japanese - it has passed into the mists long ago.
 
The ones from the mid to late seventies are decent. I had one when I was starting out. If it has a Fender shaped headstock and the Fender style open back tuners, it is a good one. If it has the Fender style headstock with closed back tuners, it is early seventies, and not that great. The ones from the eighties on, with the non Fender shaped headstock, are in the same league with Hondo, Fame, Rogue, etc.
 
These were branded SATELLITE in the UK. Reputed to be made by Westone ( was told this by a Westone freak ) . Seem to have neck issues. If its cheap then its ok for a hack. Dont pay real bucks for it though
 
My first bass was a Memphis, bought new in 1979. It was pretty much a piece of crap but I didn't know better at the time and it was all I could afford. It looked pretty good - natural finish, white pickguard, maple fretboard, total Fender P bass body and head copy but with a P/J pickup arrangement, but the strings weren't aligned properly with pickups and the neck had definite issues that just got worse over time and no amount of adjustment would fix. Not a very good first ownership experience, which is why I always advise new bassists to get the advice of a seasoned player if possible, choose carefully and buy the best, trusted product they can possibly stretch to afford. The internet has made that a lot easier!