Summary: I have owned this bass since December 2007. I posted my previous review of this product while in the "honeymoon phase", if you will. After owning it for almost 4 years, I have made some observations which I will share now. I NEVER use this bass plugged in.
Pros: Great for one-man practicing, nice neck, solid construction, good unplugged tone
Cons: Plugged-in sound, had to install strap pin at neck.
Summary: I bought it used from a friend for $100 with a Takamine Acoustic Bass Case (which I also recommend). This bass is so much fun! I currently have it strung with rounds, and it sounds horrible. As soon as I get some flats, it'll be great. I really want to try some Fender Nylons on it.
Pros: Not having to plug in all the time, Feels really good, looks cool, sounds good plugged in and unplugged.
Cons: E string is quiet when plugged in, tends to feedback easily, can't be heard w/ acoustic guitar.