i think it's worth a $200 difference and that money should go to peter hook and the team at yamaha that engineered the preamp as fundamentally that's the only difference. all other parts exist already.Thanks for doing this. I can hear the difference as well, the BBPH definitely sounds more like the BB1200S. I also think the BBPH sounds like it's much more "in your face" too, like it cuts through better. The BB734A sounds a bit more subdued, but not a whole lot. That might have something to do with the tweaked preamp of the BBPH, the reverse P definitely helps out with that as well.
However like Napkins said, I don't know if it's worth the $500 difference. Aside from the modified preamp and reverse config, they're the same bass at the end of the day. I'm curious if the preamp in the BB734A can be modified into the BBPH preamp, or at least a close approximation, by an end user that's skilled enough with electronics work. I think they share the same PCB, but I also haven't seen the preamp boards side by side to compare.
if they gave us a hard case, ebony fretboard(like Nathan east's!), some thoughtful memorabilia like a certificate of authenticity or some kind of numbering like fender and ernie ball do since this is such a limited thing - custom inlays would be nice - then i would say the $1199 price is alright.
the 30th anniversary attitude is $4000 street but it's made in Japan and comes with certificate of authenticity personally signed and numbered by billy sheehan and a copy of the helix native plugin from line 6 to name just a couple of cool accessories it comes with.