Iam glad this thread was revived, I own an American Jazz, that's about 20 years old, I love that bass, right now it is having some work done to it and I had to buy a second bass, I ended up getting an Ibanez Sound Deign CR405 5 string, I like, but there are tones I can get with the Ibanez that I can't get with the Jazz.
I have been looking into the Squier Jaguar, mainly because I love that design, and I would be just a fun bass to have. and for $200.00 how can it be a bad deal? Anyway I was checking out the Jaguar this weekend at the Wal-Mart of Music stores, The first thing I noticed was the frets were not flush.
After reading this I am going to check out other ones and see if it was just that particular one. One thing that I did like was how small the neck was, it is just cool. Now I did not plug it in, when I test out a bass I like to listen to it unplugged, I want to bass to have a nice tone with out the amp.But that Jag sounded like I through it would, a little mid rangy, were it would sit on top of the drums in the frequency, so a really cool rock and roll bass, but I will say this , while I am sure the bass is not bad, there is definite a noticeable different in the hardware quality, but that is also part of is tone.
To ad to the list of metaphors to compare the American and the Squier, I would say that while a T-bone is technical a better cut of beef, a good Hamburger will beat it when you want a Hamburger.
These thing are tools and the more variety you have in your tool belt the better, so while it has been 8 years I wonder what kind of bass the OP decided to get.