I made another post about fretless basses a few days ago and now I'm thinking about getting a VM fretless to use as a litmus test for my fretless playing, and then putting some mods into it over time if I like it (specifically new tuners and maybe a new neck depending on how I like the Ebonol fingerboard, possibly new pickups down the line). Are these basses at their core going to be worth sinking these upgrades into? I mean, there's one locally that's dead mint for $230. If I put $100 EMG pickups, $80 Fender tuners and maybe a $250 Warmoth neck on it, would I be any better or worse off than if I'd gone for a MIM instead?
Don't know about that specific model, but here's an old thread about someone who did a beautiful job on a VM Mustang: http://www.talkbass.com/threads/squier-vm-mustang-project-pic-heavy.809171/
Had a VM Precision fretless and absolutely loved it. Have a VM 5-string P fretted now, and like it but the electronics aren't as powerful so I'll probably change those. Depends on the bass. There can be different things you don't like, but chances are you'll not have to replace everything. I liked the ebonol neck. Only reason I got rid of the fretless was because the specs on fenders is too different from what I normally play to learn fretless on. I had to get a fretless with my specs to truly decide if I wanted to pursue fretless. But yeah, you should be able to get something usable modding a VM. Just don't go too crazy.
On the VM vs MIM question, you can easily sink enough money into a VM to pass the cost of a MIM. At the $660 you quoted, it probably wouldn't be worth it. Luckily it probably wouldn't be necessary. Probably just the pups and whatever tuners are bad. Might be one or two but don't need to replace them all. You could also find a MIM for $300 to $350 and might just have to drop the EMGs in if you like. They both are pretty decent basses.
Check this out..just what you are looking for... http://www.talkbass.com/threads/tricked-out-squier-club-part-3.932754/page-58
that is exactly what i did. use the squiers as moding platform. got very nice basses! the p modded with dimarzio j pickup, bridge, tuners and pots. the j is more heavy modded - with MIM body, dimarzio pickups, tuners, bridge, nut and pots. both are great.
Get the Squier fretless and play as is. I got mine a couple of years ago from MF as a restock. It arrived in brand new condition and has been great. I've taken it on a couple of smooth Jazz gigs and it sounded great. Get it, play it.
I have a new VM PJ loaded body with Mighty Mite all maple neck. The pickups are amazing; no need to change them unless you want to play slap bass and want something more hi fi. They have a lot of midrange.
I agree.. The Squier VM Basses are really good out of the box. I haven't played the fretless, but I have two Jaguars and a pj. Really fun instruments.
Nice work, but he overdid it. All you have to do is put Deep Talking Flats on it, change the pots to 500k and replace the 0.047 to a 0.1 uF cap in and it sounds vintage indeed.