Yes Ross I've done it. I had a P bass, chucked in a Model One and replaced the P pups with Dimarzio. I had two seperate outs,each pup had a volume control.
I ran it through a stereo power amp, A Pearce BC1, using the clean channel for the Humbucker from hell, theother channel was for huge distortion....cabs:a 2x15 for bass and a homemade 8x10 for distortion. One thing I didn't manage to do was also run a clean channel, adds definition tothe huge sound you end up with!
I can honestly say it was the bass tone from hell....HUGE and that's without the clean channel, crossovers etc, etc...Yes, Sheehan-izing ones bass is awesome. DO IT! or buy the Attitude