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What is the ultimate best P/J value???

G&L SB-2T...ultimate definitely describes it.
Your search is over.
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I haven't tried the entry level BB234 but the rest of the current Yamaha BB series outperform anything in their price range IMO. The top-of-the-range (made in Japan) BBP34 is possibly the best bass I've ever played. Easily as good or better than Fender Custom Shop but considerably cheaper. The BB434 and the BB734a are really good instruments too.

As always YMMV. It depends on whether you want something very vintage/traditional or something more modern. For me the current Yamaha BBs tick all the boxes for a modernized/improved P(J)-bass (something Fender never seems to get right). Some other manufacturers, like Sandberg, take it a bit too far for my taste. They end up with an instrument that neither feels nor sounds like a vintage P but more like an Ibanez SR with vintage looks, which to be fair is probably what they intended (and they ARE amazing instruments if that's what you're looking for).

But for me the current Yamaha BBs have the perfect balance between a vintage feel/tone and modernized/improved features. Vintage with an edge.
 
Hohner P/J Professional. You can find them for a couple o' hundred bucks and they sound and play like booteek instruments. I bought one to part it out and when I plugged it in to check the electronics I was blown away. I've used it on CDs, live radio concerts and lots of gigs. They were made in the late '80's/early '90s. Mine's a black fretless model, but they made fretted versions, too. Wish they still made them.
 
Another vote for the Yamaha BB series, either the current ones or older models. Besides the fact that Yamaha has been building musical instruments for about 130 years now, they have an excellent reputation for quality control at all price levels. Several years ago, I bought a used BB 5-string in excellent condition, which further boosted the "value" quotient for me because I avoided paying full retail.