Since i bought a T-20 earlier this year, it's become my main gig-bass.
I LOVE the neck. In fact, it's the neck that has made it my #1. It's stupid heavy though, and i usually don't take it to practice because of it. However, the weight translates into a REALLY sturdy feel.
Tone-wise, it may sound weird... but it reminds me of what a Gibson would sound like if they made a P bass. In general the tone's very dark, like most of the Gibbys i've played... simmilar to a Grabber, IMHO.
In my bands, it's either played slightly overdriven, or with a Bluebeard fuzz going on. Sounds great!
It's been played through an array of different amp/cab set-ups and seems to like Tubes and 15's the best.
$250 is an ok price. I payed juuuust under $200 for mine, but had after-marker vol/tone knobs (downgrade) and after-market tuners (upgrade). Because i'm a dork, i bought original peavey knobs for $25 (for the 2) so it's more true to its original form.
All in all, i LOVE the bass, but i can see how it wouldn't be for everyone. If you want a true peavey rendition of a P bass though, i'd look into a Fury or a T45. But, if you want something a little different, a T20 is a great and solid sounding bass, with a unique look that gets a lot of compliments.
I would love to A-B my T-20 to a slanty-ferrite Fury some day...
Anywho... ACTION SHOT!!