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. Overall, it's a great guitar for playing at 11:00 at night in your apartment without being evicted. Also, it's great on the road (no need for an amp).
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.
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. If you're going to be plugging in, get an electric. This bass can't really be heard over an acoustic guitar, so you're mostly buying the novelty of it. That being said, I am glad that I own this bass.
Pros: Great for one-man practicing, nice neck, solid construction, good unplugged tone
Cons: Plugged-in sound, had to install strap pin at neck.