Basswood has a great even tone across the strings and I really like it. People say stupid stuff about it like "it's the cheapest timber" etc. The only thing I would mention is that it's soft, so it can ding/scratch up easily, but it's structurally sound.
I had a Basswood Superstrat for 3 years and you could see indentations where it had been sitting in it's stand (the metal has started to come through the foam).