Small Scale, Big Tone
Preface: I own both this Fender MIJ and a Squier VM Mustang bass, so I will compare them naturally.
The Fender Mustang bass is a great, but not quite perfect short-scale bass. It is very easy to play for us smaller guys/gals, sounds much like a P-Bass (maybe a bit thicker), and feels solid as a rock.
If you are one for bending or vibrato, you'll find it much easier on this bass. The pickups react very well to all effects types: fuzz, drive, octave, chorus, flange, phase, etc. The potentiometers are smooth, easy to turn. You can actually hear the tone control work. Rosewood fingerboard really works with the pickup, as the Squier's maple sounded harsh with roundwound strings (flats get it closer to this, but not as thick).
Cons: Heel truss rod access makes adjusting the action a tedious, painful process. Finding strings just for a string-through, short-scale bass is nearly impossible (long scales work fine). Neck feels a bit sticky due to the glossy finish. Chords can feel tiring from the vintage neck radius (easier on the Squier VM).
Overall I would definitely recommend this bass to anyone looking for a "vintage" feeling and sounding bass. It isn't perfect, but none of the Mustang options currently are and this one is close.
In short: Sounds like a Precision, plays like a Jazz!