That's me playing the white VM 5 on page one of this thread!
I can't say enough about the quality of the SQuire VM range. For years I had completely ignored Squiers, probably because of the hunk of crap one I had in the early 90s - A P-bass, my second bass (looking back, it probably jsut needed a good truss rod tweak).
The neck on this bass is great. The stock pickups were not bad at all and appeared to be alnico Vs with cloth wire. The wiring inside is top notch with good quality components. The tuners seem ok. The stock bridge is a bent bit of pot-metal, but no worse than on may fenders.
Altogether a superb 5 string p-bass for not a lot of money - cant really see how it could be improved by spending an extra 1000 quid on an american on. There is no problems with the B-string on this bass either. Played live the sound is meaty, p-bass goodness all the way.
I've been playing bass 27 years and have had dozens through my hands. The quality of modern budget instruments is outstanding, way better than back in the day. You get the odd dodgy ones, for sure, but good ones are excellent for upgrading into superb beasts. I have a VM 77 Jazz which has been suped up with a badass II, Delano PUPS, Hipshot tuners and a John East pre-amp. Great sounding bass and the neck is probably the nicest one I have on my many basses - action is sooo low with no fret buzz. Feels amazing! In fact, here's a vid of that bass (off topic, I apologise - remove if you want admin): https://www.youtube.com/watch?v=8NnCnqAF2SA