I know it has the feature but is it good enought for a an occtive down on bass or should I spend the money on a real octive down pedal
I'll give an opposite opinion on this one , the Whammy IV is my absolute favourite Octave down for my Basses. Check my previous gear list to see what equipment it has beaten over the years............. However the famous OC2 and Octamizer style analogue octavers that a lot of people swear by are also awesome, but a different tonal octave.
I would spend the money on a separate octave down pedal. With the Whammy you are going to lose the nuances of your sound and it will sound sterile. At least with an analog octave down you get some cool artifacts and tones. The tracking won't be as good as the Whammy but it will sound so much better(IMHO and YMMV and all that!!!!) Anyways good luck with that. Next you'll be needing that perfect fuzz and Filter to get that synthy octave down sound. BTW try an OC2 1st. They are very inexpensive and all of the other good octave pedals are somewhat similar( I have an MXR BOD that I like but its usually more expensive than the OC2). Good Luck!!!
Using a Boss LS2 with the Whammy allows you to blend the Whammy and dry tones together. Fuzz box that steals bass? Same remedy.
If you already have the whammy by now, the above post is a good solution. Blend pedals are my saviour with dirt pedals. However, for octaves you can do the same thing with out a blender with a Micro Pog, or Pog2. It's digital, so the tracking is decent, ime you always need some clean signal there.