A couple years ago, I picked up an SX P/J on CraigsList for $75. At the time, I was playing a MM SUB 5 in the band I was in. Later that year, I lost my job, sold all my gear (except the SX - because I knew it wasn't hardly worth selling). I loved the SUB, but didn't have much need for a 5 string really...
I made the move to Austin, and joined a band two days after I got here... I've been playing and gigging with the $75 SX ever since. (Bought a GK 800RB for $199 on the used GC site, and paid $30 to have it fixed - my wife bought me a $200 Ampeg 8x8 after we got down here). The SX got me the spot in the band, and it's been doing great, so why change anything, right? I check out new basses all the time, and the only thing that I've been interested in, is (honestly) a Squier VM Jazz. So, I've been keeping my eyes open for one.
Today, I just picked up a Squier VM Jazz for $150 (plus another $25 because the guy had someone scheduled to come look at it before I contacted him - gave him a bit more for "first dibs").... Haven't played with it much (only spent about 2 minutes with it at the guy's house). I figure if I don't like it, I'll get my money back when I re-sell... If I do like it, it'll make a good back up. If I love it, since it's my "expensive" bass.... It may become my new main bass.
May not last for long... I've been gassing for a Carvin SB5000 ever since the last Carvin catalog came out. Might come home with one after going out to LA this Christmas.