For me, weight isn't much of an issue at all. I dont care how heavy the bass is. If it sounds and feels good, i'll play it for hours. I've got strong shoulders and a strong back due to carrying around a SAW and 1,000 rounds on my vest all day.
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I'd love to see a reissue, but I don't see the t-40 as a bass that could be reissued and made in the USA at a competative pricepoint because of it's parts and it's features.
Parts:
The T-40 uses all kinds of non-standard parts. The pickups, knobs, bridge, and neck plate are all special parts, most of which are cast and embossed that would add tremendously to the bottom line cost of the bass.
Features:
The T-40 is heavy, with an electronics layout that is esoteric to say the least. These are not hightly sought after features.
Reissue basses work because they tend to be as, or less, expensive than the sought-after original. A USA reissue would likely cost over $1000 USD, and it's just not that-sought after to be worth a production run.
What I would like to see, and what could probably sell is a T-40 inspired bass. To sell and be profitable today, it would probably have to have lighter wood, slightly smaller body, and a bit less chrome, but it could retain two humbuckers, some manner of coil tapping, Vintage curves (none of that modern pointyness) and the comfortable medium thickness P-bass width neck T-40 players love.
If it were made, I know I'd want one. I'd just love to see any vintage inspired bass from Peavey that wasn't pointy-horned and skinny-necked.
For me, weight isn't much of an issue at all. I dont care how heavy the bass is. If it sounds and feels good, i'll play it for hours. I've got strong shoulders and a strong back due to carrying around a SAW and 1,000 rounds on my vest all day.
Part of the allure of old Peaveys is their extremely low cost matched up with their extremely high quality. If Peavey were to make reissues only half of that equation could be repeated.