I've seen basses with both a stereo jack and a mono jack. What are the practical application for a stereo signal from a bass? What are benefits for a live and studio setting?
Finally, can someone direct me towards a stereo wiring diagram? Even if it's not for me I'm curious as to how it works. Thanks.
The usual way it works is a bit like the old "pseudo-stereo" remastering of old records. In those days what they did to turn a "mono" record into "stereo" was to simply separate the highs into one channel and the lows into the other. It's not really stereo but it does give a kind of separation effect.
It's the same with "stereo" guitars and basses. Usually the trick is to feed the neck pickup to one channel and the bridge pickup to the other. That, if you have two amps, gives some spatial separation and often a pretty nice sound! I've got some guitars, but no basses, wired that way.
But in a normal bass the "R" in the TRS jack is used as a power switch rather than a "stereo" output. On mine that give a TRS stereo output you have to use a special rig like say a Fishman Power chip. or like Rics, have a second "stereo" wired jack.
This works for me because of my amp setup. It is basically TWO amps (along the lines of the Fender BXR 200) that you can stack vertically to give a 1000 watt mono bass rig, or you can separate across the stage to give a stereo setup.
It's the stereo setup that works for the "stereo" wired basses and guitars. But as Darkstorm notes, if you use effects, they sound MUCH better if you use the stereo output from the effects (but a mono input from the bass). This gives a much better "vibe" to effects like chorus, reverb, phaser etc.
But While I am setup to do this I haven't been using any effects lately so I haven't been using my stereo setup. Lets face it schlepping TWO amps and TWO cabs along with all the effects and other stuff is just a big pain. Your back will like it much better if you feed the stereo PA with a DI and your "stereo" instrument rather than two amps and cabs. (takes a stereo DI)
That's the "stereo" story.