I've really liked all of the Sterling by MM products I've played. They're great bang for the buck. I played a JP50 that I was particularly surprised about. They are what they are: Asian made Music Man instruments. You can take that as you will, but I've not noticed any issues with what I've played except for the Silhouette copy(Ray34, Ray35, JP50, the Silhouette copy). I just didn't care for the single coils in it.
I just took delivery of a Sterling by Music Man Ray 34 a couple of days ago and all I can say is HOLY CR@P!!! It's a Sting Ray! The neck and fret work are WAY above most in this price range, the pickup and preamp sound so close to their USA counterparts that you could probably line up 3 or 4 Asian & US versions and they would all be very close to each other. The ONLY thing I can say that is even slightly negative is that it's a little on the heavy side; around 10 lbs, which is about the same as what was considered to be a lightweight Les Paul back in the '70's :-)
I don't think you'll find anything with the same tone as a Ray - other than a US made Sting Ray, and it's more money. The Sting Ray sound is quite unique.