I feel the need to throw my 2cents in on this thread.
I recently purchased one of these, and HOLY RAT SH*T does thing thunder. I have to say that this is not your run-of-the-mill bass. It doesn't sound like any other bass I've ever tried or played. The other people in the TB threads are totally right about this bass and its output, it's insane. I plugged it in and immediately blew a tube in my preamp. You cannot use this bass like you do other fender basses. I found I had to completely re-EQ my amp to make it sound right, and throw my -15dB pad on like I do with my active basses (plus change a preamp tube, dammit -_-).
The string spacing is really wide, but quite comfortable once you get used to it. I find like many others that I use the front pickup most on the bass, with the back pickup turned up about 1/3 of the way, but I roll the tone knob all the way up. I rolled the bass knob on my amp almost all the way back, boosted the mids, and turned up the highs quite a bit. I get a really nice sound that way, a very gutsy growl.
It is definitely not a slap bass per sé, but if EQ'd properly, you can get an old school slap sound out of it (think Toto's "Rosanna"). However, I would slap with caution, as this bass has a tendency to thunder most amps and speaker cabs into utter submission.
I love the old school look, charm, and sound of this bass. It works exceedingly well for that big sound players need for Reggae, Dub, and even old school Country (when EQ'd properly) because this bass definitely gets the same boomy, woody tones that an upright would get plus some extra thunder. It also works well for fuzzy rock and metal things like Doom (it's friends with my Big Muff) and Psych Rock, and I noticed some people even like it for aggressive styles like Punk. It sounds great tuned down (tried it in C and B, and woof). I really don't know if this beast would pair well for something like Thrash or Death Metal or one of those genres, but I haven't really tried it out in those settings yet.
Overall, I'm incredibly impressed with this. I find myself unable to put it down after picking it up and plugging it in.
I'm mostly impressed by the pickups, and after reading other threads and scouring the internet for more info on these have yet to come up with much. I know they're based on the old Seth Lover design, but are they the same type of magnets (cunife) and winding as the original 70's Tele basses? It sounds like those were expensive to produce due to the rarity of the magnets, and my guess is they're not the same, but can someone tell me otherwise? Either way, I'd really like to know more about these pickups specifically, and if anyone else makes an aftermarket replacement. I was unable to find any, and I know it's quite unlike the Gibson Mudbuckers.
I'd have to say my only complaint with the bass is that it isn't a string-thru body like a proper telecaster should be. I think that'd improve sustain and tone clarity a bit. I'm sure Fender had their reasons for not including this (my guess is cost-cutting reasons) as a standard feature, but if there was one thing I'd change about it, it'd be that.
