I was rather surprised by this little one. I bought it just for kicks and to have something small to carry to improv nights and such. It definitely gets the job done. 
Despite it's smaller size, it performs as wel as any of it's bigger brothers. The tone is typical for a P-bass and it plays smoothly. No rough edges anywhere. The bag's a bit of a tight fit, but does the job well. 
If there is a downside to this little bass it is that some tuners don't like it. I read that this is due to the shorter scale of the instrument and the length of the strings and not some defect on the instrument itself. Just something to keep in mind. 
Oh, and play with it a bit before you go on stage. You'll want to get used to the scale. Not that it's awkward in any way. It's just really really really short and getting used to it a bit before playing live is recommended. 
Other than that, this one's a keeper.