I built a 5 string bass with the Nordstrand 5.4 and an Aguilar OBP 3 preamp. It is an Ash body with a Pau Ferro neck. I got stainless frets on it, and I think it is swell. I added a parallel, single, series on/on/on mini switch that really makes a big difference in the sounds you get out. You can tweak the eq till the cows come home, and change quite a lot, but nothing like the mini switch. It is three separate beasts depending on where that switch is. I put the pick up in the neck spot. I never really liked the bridge pickup sound on a bass. I don't have a MM bass to compare it to, but I can say that the Pau Ferro neck is sinfully fun to play. Seriously, if it doesn't sound quite the same as maple, but it is that fun to play, it is a concession I'd make every time.
Patrick