Having owned and sold 70's Fenders when they were new(ish), I can honestly say that my Squier VM Jazz is equal to any of them in sound/playability.
However, I understand the concept of desirability for older basses (although I wouldn't call the 70's 'vintage').
If I had kept some of the basses that I have owned, I would be a rich man.... but at the time some of them were so bad they just were not worth keeping!