I don't have the short scale but the standard scale VM jaguar bass and I agree, for the money, the tones, playability and overall "vibe" of the bass rivals that of my more expensive basses. I also played a fretless VM jazz and couldn't believe how nice it was for the money.
Unfortunately, alot of people seem to put their nose up in the air at any bass that says "Squier" on the headstock. I'm not saying that these basses will compete with an American Standard Jazz or anything, but in my opinion if you look at it from the point of view of return on investment, you're getting ALOT more bass for the money if you buy a Squier. I put some Ernie Ball slinkies on mine and the thing kicks @$$!