Here's the truth, it sounds mostly the same as a Fender Precision Bass. I might venture to say that it's a little darker tone wise than an actual Fender P, but I think that's because the strings on my friends Fender P are pretty fresh. The key difference, I think, is playability. My Squier P is just not as easy to play as a Fender P. The neck is kind of chunky and the action comes stock at a medium height. Also, the neck is not glossy, a feature that I will look for when purchasing my next bass. The Squier P also has a cheaper look to it, but that is as much as I can articulate about it's appearance in comparison to a Fender P. Something about it is... Rounder? It looks like a little bubbly next to an actual Fender P. All in all, it's really not that bad. I love mine to death, but it is my first bass.. It handles fuzz and effects just fine as far as I'm concerned
Got this second-hand from someone advertising it on Craigslist. Swapped out the stock pickguard for a nice tortoise-shell one. Sounds alright, may very well swap out the pickups at some point for something meatier. Run this into my Ampeg combo with the TS9 in front of it, and it SLAYS.