I recently went back to a Ray as my main stage bass after using a 94 for a couple of years in the nineties.
I chose the classic as the two band eq is killer, it was very light (make sure you get a light one as it is possible to find them out there) and it looks great. Another big factor in favour of the classic was the neck profile. The 1994 i had (which had a three band, VERY clangy) had a flat radius board and a chunky neck. Not comfortable for my hand. The classic neck profile (7.25 radius, less girth) is honestly one of the great necks around at the moment.
If you can't get a classic, get an 80s Ray with the slimmer profile unless you want to go the whole hog and get a pre EB, but then you could run into cost/construction/weight issues. I've seen 88/89 Rays go for 8-900 in the gallery so they are a genuine alternative to a new standard Ray and IMHO are better than the new rays. I tried a number of new standard Rays and honestly think they are not in the same league, quality wise, as the mid nineties bass I had, which is a shame.