My first bass was a Kay Precision copy that I picked up for £30 in 1990, funded by a glass-collecting job in a pub. It was sunburst with a maple neck and had a mangled black scratchplate that the previous owner had modified to cover some nasty routing. I never did find a replacement plate that covered the routing so I left it on there.
I could fit my fingers under the strings at the bottom of the neck and it had two E flatwound strings for the E and A and two heavy-guage roundwound D and G. I remember the blisters well while I was learning! What didn't help the blisters, but helped strengthening my fingers, is that I used to buy heavy guage strings during this period, thinking they would last longer!
I've been through quite a lot of basses in the 20 years since and regret the sale of many of them (especially the '82 Rickenbacker 4001 and '98 American '62 Jazz Reissue). I recently had a clear out for financial reasons and had to regretfully sell my Fender Classic Series 50s P-bass (which is a fantastic bass for the money!), so my sole remaining bass is a sunburst Peavey Zodiac BXP with black scratchplate and maple neck that I picked up for £120 and to console myself, plonked a set of EMG PJ-X pickups in it.
Playability-wise, the Peavey is very comfortable - narrower neck than the Precision, but it's a thicker neck. Soundwise, it sounded pretty decent with the stock pickups but the EMGs have been a more than worthy investment and sound more even from string to string. Bloody silent too, which is rather nice.
(as a side-note, anyone interested in the PJ-X set should definitely give them a try - I'd read that EMGs sound 'sterile' to some folk, but it's not how I would describe the PJ-X set. They have great clarity on the high end, and are not lacking on the low-end without sounding 'boomy')