For a blues band, the Squier Classic Vibe Precision 50s in Butterscotch would be smokin' hot! Getting the "vibe" of Leo's first bass design in a brand new bass for under $400.00? That's a no-brainer! It's got a nice glossy poly finish, so it'll take a beat-down in a sleazy bar, no problem! If you need a little more punch than the stock vintage-looking pickup provides, SD makes a Quarter Pounder that'll slip right in with no fuss. Even after upgrade, you can STILL be under $400.00!
IMHO definitely worth checking out. I've been lusting after one for a year. Finally pulled the trigger on one of these. I'm eagerly anticipating the FEDEX truck early next week.
Oh, as for the Peavey T-40 recommendation? Outstanding! Not only is that one of the best vintage American-made basses around, it has the versatility to sound like almost any bass out there! As a bar bass, it has the extra value of being one heavy son-of-a-carrot! At 11 to 12 pounds, it's a great "equalizer" if you have to put down any ruffians!
Good luck. Time to keep your original Fenders under lock and key. They're a great hedge against inflation, and might come in handy if or when you retire. I can only wish my 401K could do as well as these old basses in today's market.
Mike in Texas