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NBD: '50s Precision

That's a great-looking bass you got there, and sounds like you got a sweet deal too - enjoy it!

I bought my first Fender product offa' the local Craigslist last month, and had the same feeling. All around, what's not to like? For a simple, elegant, get-th'-job-done bass, shoot... I'll take two of 'em!
 
I'll say it again..., the 50's Classic Precision is Fenders best kept secret. I've owned several and even sold my 58 RI because I liked the Classic neck so much better. I'd trade all my gear to get back my first fiesta red, as it was THAT good. It had some early Fralins and a mint pickguard with TI's. LOVED that bass and have never played another better.
 
Congratulations! You're gonna love it. I'm struck with how nice that fiesta red looks.

I'm constantly picking mine up...sometimes just to play and feel that neck. There's days I've a hard time putting it down to go eat a meal.
Mine's the honey blonde.
Yeah, the blondes are pure pron!

When my wife first saw the fiesta she said "Wow that's A color!"
 
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These are great basses. I bought the one in my avatar (also fiesta red) in '06, after having gigged with a G&L Tribute L2000. I loved the neck on the G&L: it had a satin finish maple fingerboard with a 12" or so radius. When I got the Classic '50s I was concerned that the 7.25" radius fingerboard, but I quickly learned that, with my long fingers, the high crown and wide nut were perfect. I traded the pickup for a Seymour Duncan Quarter Pound and put Thomastik-Infeld Jazz Flats on it, and it became my Number One for a number years after. Currently I am playing my '51 P RI, which has a similar neck, and it is strung the same way.

Another thing (speaking as the owner of a Fender AVRI '57 Precision) the poly finish on the Classic '50s will last forever and look new years from now unless you subject it to some really creative abuse.