So all in all my $25 bass is going to end up being more like $525 after all parts and labor but hell it'll be my own custom creation..sort of..hahah
Good Heavens, that's alot to drop on an old Ibanez. I don't personally think it's worth it, but I hope it turns out well for you.
I love a good cheapie (less than $150). It's always a thrill to find a good deal, and I enjoy doing little fixups to basses. My rule of thumb for cheapies, is do what it takes to put it in good working order, and if it's not what I like, then flip it.
Example
84 Fury- 50 bucks at SamAsh with a bad input and the hightest action I've ever seen. It got a neck adjustment, contact cleaner to the pots, and a radio shack input jack.
Buy at 50, invest 5, sell for 125.
If I had that bass, It'd get a bit of filler to the rough defret, some dark dye on the fingerboard, and a glueup and nail polish to the input crack.
Buy at 25, invest 10, sell for 90