Sounding like a ray on a budget is as easy as A. T. K. - Ibanez ATK! Having owned 4 & 5 string rays (and a bongo until quite recently) even an ATK300 can get VERY close. Have to say the first time I played an ATK was in Guitarguitar in Glasgow and A/Bed the ATK with 2 different EB Rays (one maple board, one rosewood board) and the ATK was FAR superior... just my opinion... Doesn't look much like a ray though.
A status ray neck will cost you more new than a used EB Sub and that's before you add neck hardware, let alone a body, bridge and electronics.