I do have 2 necks with Ultralites. I have actually found they change the tone slightly. The tone is slightly less crisp and tight. I assume due to the lower mass. I was quite surprised, but have confirmed it by swapping tuners on a couple of necks. Much nicer to use though and the tone isn't worse, it's just different.
With this bass I was going for a fairly accurate '51 style bass, so went for period correct parts. I could have just bought a MIJ version, but I knew this would be better and I wanted the nitrocellulose finish. I even went as far as getting flat slotted screws rather than phillips head.
Of course I completely ruined that from the start, by going with the Warmoth neck/body, instead of the square heel neck joint of the originals. Then using the Wilkinson intonatable (is that a word?) bridge and the Fralin split humbucking pickup.
It sounds great and nothing like my other P or J style basses. Much more woody and deep sounding. Ironically I owned a Jack Casady hollow body, that I was never totally happy with and this sounds the way I wanted it to sound. I assume due to the light weight body and the pickup being slightly closer to the neck.