I doubt anyone is still following this thread, but purely for the sake of closure...
I spoke with a number of TB'ers who experienced the same issue and consulted with 2 different techs. The second tech I went to had run across this bass before (not mine, but the same model) and he told me the truss rod was probably fine, just very hard to turn. He offered to tweak mine as long as I waived my right to scream if he was wrong and it broke!
I really wanted the bottom line at this point, plus the bass was of no use to me if the truss didn't work, so I agreed. He muscled it down to where the neck was completely flat, then loosed it and tightened it again. No problem. It definitely took some effort, but it's do-able. Apparently the issue has to do with the bullet digging into the wood and causing a lot of resistance. He told me the original 70's Fenders had the same design quirk.
Fender would probably say this was "period correct" for this bass!
In any event, I ended up trading this bass so it's no longer an issue for me, but if you have one of these and think you have a truss problem...well, you might, but you might not.