. . . . im thinking about getting a 1979 fender precision bass (black finish, maple neck, beautiful). Love P-Bass tone and the look of relic instruments.
I had a 68 Precision which sounded good at the time, but would probably lose out to many of the basses around today. The pickup was pretty characterless.
Unless you know exactly what this 70's bass sounds like I'd go for a more recent Precision bass. They have more consistency, could sound better, be cheaper and you could replace the pickup if the bass ticked all the boxes apart from tone.