Here's my 2013 Fender American Special P Bass. I have Rotosound Jazz 77 flats on it. I like having the covers on for several reasons: the covers add weight which means the weight distribution of the bass changes to eliminate the famous dead spots on G string, the pickup cover being made from steel helps spread the magnetic field of the pickup to even the volume and the bridge cover keeps the bridge free of dust and junk. I have been playing since 1971 and have read many reasons why ashtray covers were installed on P basses, but now you know why they were put there in the first place. I learned it all from a bass player who had an original 1952 P bass he had purchased new. Remember the metal weight they used to sell that attached to the headstock to eliminate the dead spot? People needed that after they removed the covers!
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Looks nice... just like, as you say, a P-Bass should. It's also the way my "A-spec" necked '78 P-Bass looks. Mine also has the foam mute under the bridge cover, over the closest flats you can get to the original Squier-made Fender Flats - GHS's Precision Flats. I had Roto RS77LD's on mine for several years before that; and yes, they do sound great on a P-Bass. But, I want mine to sound like it would have in, say, 1968 - and it doesn't, with the Roto's. But, the music in '68 - or older - is what I like to play, so...

As for the dead spots? Mine had one when I bought it in 1988 - along with a set of Roto 66's, and what was left of the frets they'd eaten. After I had the bass re-fretted and refinished (that's a long, sad story), and put the Roto 77's on it? The flat spot was gone. I discovered that I could make it come back, though, by messing with the tightness of the neck screws. Turns out, the neck/body joint is a big factor in dead spots, since that's where the mass of the body and the neck combine. And, the tightness of those screws can eliminate/minimize them. They don't necessarily have to be horsed down tight - the correct tightness varies from bass to bass. With mine, the back 2 screws need to be... fairly snug; and the front two, about 1/4 turn lighter. Result? No flat spots, at all. However... yes, the covers - as added mass - probably do effect the potential for dead spots. Just as the Jazz Bass - sized "A" neck does, on mine...
