I have a 90's one. It's light. Thin neck, very comfortable. It plays well. One thing, the frets ends were popping out of mine last winter and some frets lifted and had to be glued down. I've spent more than I paid for it in repairs. You could say that it was from the lack of humidity, but my other guitars/basses were fine. Tuners are just OK. Buzzes a bit. Scratchy pots, had to replace. A little neck heavy. While being pretty solid, they cut some corners. It's made in the USA, but it's really on the low end of USA made....not to be confused with other American instruments. That said, it's a good beater bass, certainly gig-worthy, so I'm keeping it around. It gives you that P bass sound that you can't go wrong with.
I would agree with a previous post.....don't pay what some people are asking for them. I've seen them for $400. No. More like $200, in really good shape. Somewhere, I think somebody pumped them up as an awesome American bass equal to others, but at a lower price. That's quite a bit of hype. It's really cool to get a USA instrument for that cheap.......but, I will go out on a limb and say that any other company's USA built bass is better than a USA Peavey Fury.
Although my 90s Fury is a bit nicer than the one you describe, I've owned others that weren't as nice as my current one... Overall, I would totally agree with your last paragraph - nailed it, actually...