The bass I've got is a Hohner Rockbass. It's got quite a bit of fretbuzz on a couple of the strings, the tone control doesn't work and fiddling with the volume control normally causes the signal to cut out completely - so it's fairly crappy, but playable and doing an OK job.
My personal preference would be to get a new bass (maybe a Warwick Rockbass Streamer or Yamaha RBX 375) but I want to make sure I do what's best for the band's overall sound. If the band ever gets some gigs then I'll be able to justify shelling out for some more kit, so I think I'd rather spend the full budget I've allocated on one item than spread it across both a cheaper bass and amp which I'll want to replace later.
Not much support for the DI to PA option so far though, which I guess points me towards focusing on the amp.