Well, after last night, the Epiphone Embassy has gone up a grade.
I put a reasonable bass boost and a slight lift on mid and treble on the TE Elf, that made all positions of the blend control usable. In neck position I could get a lovely powerful but rich tone, but also plenty of presence by moving my fingers towards the bridge. With the bridge pickup I could vary hand position to move between a serious cutting honk to a more mellow sound. It just seemed much more pronounced than the variations on my Jazz basses.
I was playing through the TE Elf (which gives a bit of built in compression) and the GR Bass AT212. Our guitaruists commented "That Trace sounded killer, very tight sound, no farting bass tones haha"
An outstanding instrument for the price. I can't imagine anyone wanting to change the pickups.