Well....
The t-40 has been discussed ad nauseum on this forum (do a search), but I love mine so much that I will indulge your curiosity. I have a 79 natural ash w/ maple neck T-40, It is in near new condition. It still had the pickguard film/control labels on it when I purchased it 3 years ago. It took over for my modded MIM pbass, as favored 4 string, and is now narrowly competing with my homebuilt Fender Jazz (all Fender USA parts except body and pickguard) for favorite 4 string. The Jazz is lighter and nails the Jazz tone better, but the T-40 is more ballsy and more versatile.
It looks beautiful and sounds awesome. The bilaminate neck is extremely stable, and the two oposing grain halfs (that's why it is so stable) don't look uneven at all. The hardware is very solid , with a metal nut, good tuners and a massive bridge. The body is satin finished multi piece ash that is very well matched on the front, not quite as well matched on the back.
It has the ability to produce quite a few very good sounds. From a thicker pbass sound, to a bright jazz sound. The controls are a bit quirky, (do a search for full explaination) but make for a very versatile instrument. Also, it can do the closest aproximation of the rickenbacker sound of any non-ric instrument I have played, which is probably due to the wierd old pickups and their placement.
Yes it is heavy, in fact it is very heavy. If weight is a consideration, don't buy one. Usually selling between 200-350 dollars The T-40 is definatly one of the great under appreciated bargains in well constructed, quasi-vintage, American Made basses.
Now if only I could justify geting a sunburst w/rosewood T40.....