Advice re the 90s Ray is good - they often have figured maple necks and some of the rarer colours are very cool (eg blueburst). The 3 band version gives a little bit more flexibility - however if you cut the mids (about -3 out of -5 from centre detent) and boost the bass and treble a touch, you can get very close to a 2 band sound. The other difference between the two is the 3 band has a high pass filter which reduces the boomier sounds in the bass EQ.
Other alternatives you could consider are the US Sub - a full fat 2 band US Stingray with cheaper finishes. Same hardware but not stamped Musicman. Built between 2003 and 2006, these are excellent basses and more affordable than a used Ray.
Using flatwound strings will help to achieve a Bernard Edwards type sound. However I aim for a get a sound I like approximating to this using either a Stingray Special, 3 band, Old Smoothie or SR5 (with roundwounds) or a Stingray Classic with flatwounds.
If buying a used EBMM Ray, you could consider a dual pick up version - these have more tonal versatility but still give you the option of the classic bridge H sound.
Woah... that's a thorough explanation. Thanks!
