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NBD Dean EAB

Ok, I know it's not the greatest bass out there, but I spend a fair amount of time at my step-son's house and my wife gets me. I already had a six string that I just keep here, now I got a real nice deal on this so I can have something to practice on while away from home.

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I'm thinking that the action is a bit high and wondering about getting a set up on it.
 
What does NBD mean? I'm seeing it on a fair number of threads. For that matter, what's GAS mean? (From context, I can tell it means that you want X guitar, but I would like to know what the acronym is).
 
I have a dean fretless Abg and while it is my least expensive bass, I get lots of compliments on the looks and tone. (I put flat wounds on mine) they are a great value and honestly I think they are one off the best Abg out there regardless of price. I have owned a few and played many. The only two I preferred over my dean was a Tacoma thunder chief and an old guild- both of which cost three times what I paid for my dean.