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NBD! '71 Precision

One thing I have not seen mentioned in this thread. Being a '71, OP's bass is not that far out from Leo's departure from CBS Fender. IIRC he did not leave until into 1969, so by 1971 he still should have had some residual influence on quality control. I don't think the "bad 70s Fender knock" was applicable at that time but only became relevant years after.

I have a formerly black 1971 A neck P, horribly modified by a previous owner (and compounded by me), and that is the best Fender I have owned and arguably the best of any I have encountered. Purchased by me in 1986 as a pawn shop prize.
 
One thing I have not seen mentioned in this thread. Being a '71, OP's bass is not that far out from Leo's departure from CBS Fender. IIRC he did not leave until into 1969, so by 1971 he still should have had some residual influence on quality control. I don't think the "bad 70s Fender knock" was applicable at that time but only became relevant years after.

I have a formerly black 1971 A neck P, horribly modified by a previous owner (and compounded by me), and that is the best Fender I have owned and arguably the best of any I have encountered. Purchased by me in 1986 as a pawn shop prize.

There's definitely something in that. I've owned quite a few early 70s Fenders, and there's something special about them.
 
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A few days after I was born!!!!

Nice score!

The digit doesn’t represent the day of the month actually. 5 means the neck is for a Precision, 3 is for Telecasters and Esquires, 7 for jazz basses, 22 for strats etc. But then again with Fender being Fender in those days there are a lot of exceptions to this rule as well.
 
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"bad 70s Fender knock" was more mythical than factual, once something gets printed the story gets past around and believed as the truth. Collectors on the other hand can inflate the story the same.
Yep. I get the impression it's become a shibboleth that gets uttered reverently to "open doors" to all the "cool cats" who are "in the know". Around the mid-90s, a decade and a half after I bought my apparently shite P-bass, the discerning guitar cognoscenti on Usenet were decreeing that all post-65 and pre-85 Fenders be the Devil's Business. I guess the factory didn't get that memo from the future the day they put mine together, which had been solid as a rock for 43 years!