I really don't agree with you ! Wals and Fenders are so different basses and such different tones ! I can easy recognize by ear each sound ! If they had the same sound and tone, there was no reason to Geddy to change the Wals for Fenders. I'd been playing Wals for 20 years, and Fenders are a standard bass for everybody and it's easy to listen the tone differences between them ! But ok, you can get a reasonable Wal sound with a lot of kind of basses, but the perfect WAL sound, just Wal has !
I'm late replying on this, but it's interesting to read your take on this. I almost bought Percy Jones' Wal bass he played on lots of recordings, and posed with in the Wal ads. It was a fretless, two pickup, in natural finish.
I'd always played jazz basses and was looking for an older, lighter, jazz than mine. I picked up the Wal thinking how cool it was. Looked much different than the only other Wal I'd seen, McCartney's.
It was an incredible bass. Played like a perfect fretless J-Bass and sounded just like one too, but less noisy. I went back and played it many times over a 6 month time period, AB'ing it with older J basses. It's sounded almost identical, only with less noise, a touch less grind/attack. The big deal about it was how great the neck was and how comfortable the body was. It was a beautiful bass, and I regret not buying it.
The bass I ended up liking more, was super early Alembic. it had the the odd colored, orangish pickups. I auditioned them both for months. Finally the day I was ready to drop cash on the Alembic, the owner came over in shock about who just called and bought the Alembic over the phone... It was Paul McCartney.
This was a very prominent bass shop back around 1990. Believe it or not, bass players weren't interested in vintage stuff at all, especially not Wal or Alembic. It was a great experience playing all these basses regularly. I pretty much only play old Fender or Musicman now, if that tells you anything. I have a special place in my heart for that Wal bass. I hope someone has it now and is playing it reguarly.