That's bona-fide play wear from thumb placement!
Signifies two things (to me):
1. It's a great bass that got lots of play time. More often than not, minty ones aren't as nice and may have been shelved for years. However, this is not as big of a deal with our beloved, consistent Peaveys as it is with the Corporate era CBS Fenders and Norlin Gibsons. Sometimes, Peaveys did land in the hands of someone that took care of it.
2. Gotta check in on bigger deal wear and tear things,
---A. Fret wear. However, I wouldn't hesitate to refret (or at least fret level) a Peavey, as the expense is always worth it if you plan to keep it for the long haul. Also, ski jump comes into play with all of the basses of this era.
---B. Pots and switch.
-Switch is an easy fix with either a direct replacement part to solder to the board or (easier) use jumper wires to the circuit board on a suitable DPDT on-on replacement.
-The proper value and taper replacement spider leg pots, however, are impossible to find. Also not a total deal killer, since they are good quality and can be rebuilt. My 91 Dyna 5 had 4 of it's 5 pots pretty much tanked out useless upon arrival. I searched and searched and could only find a couple spider pots intended for Peavey mixers, which would have been a hail Mary fix for me since they weren't a very accurate part swap. Decided that I had to go deep--unsoldered them all from the board, carefully pulled them apart, cleaned, dialectric greased and reassembled them, giving them solid crimps on the pot body. They all worked perfectly afterwards. Worst case scenario is that you have to find another similar CTS to cannibalize the resistive track/wafer for the rebuild or wait for another preamp to pop up for sale to do a swap.
--I did the same rebuild on my Fender Dimension bass pots. They were not as high quality as the CTS on the Peavey, so they didn't take as well to the disassembly. They did work better than before, but still not acceptable. They held out long enough until I did find the exact replacement circuit board and did a full swap. Good as new!
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