I have played my Oct '92 4003 for the past 11 years, since my Girlfriend bought it me for my birthday for the sum of £650.Even though I own other basses including an original 1964 Hofner violin bass,it is still my main bass and the bass I judge others by.
Yes £1600 + is a lot to pay for any bass so you would expect QC issues to be sorted.In all I would have another Ric in a heartbeat though it will be most likely secondhand.