I'm basically building mine right now! Well, modding at least. Converting my Fender Elite P bass to passive as I never use active and the preamp colours the sound (I finally know what people mean by that now!).
So neck and body exactly the same as the Elite, PJ set up with S/P switch on the volume, blend pot for pups and master tone. Maybe a kill switch if I can be bothered. Olympic white, rosewood board with a tort plate (which I am stupidly making with a Dremel, I still haven't learned that it's probably more trouble than it's worth) but other colours might be surf green/daphne blue with anodized gold plate and maple neck (which is basically the regular P bass I made). Also, an orange sparkle or translucent finish which I'm going to attempt on my Jazz bass one day... or mocha... the colours would change every 6 months or so...