The results are in...
Positives: Old skool 'D' shape neck, straight not warped, satin back, great fretwork, frets overall in good nick, nut not butchered (replacement?), tuners are solid, bridge seems solid too, new oversized strap pins, sounds like a P, tone knob does something (!), neck pocket decent also.
Negatives: Bit weighty (9lbs ish), vol/tone knobs feel cheap, input jack crackly, pickup a little noisy, action like a ski slope.
Overall, I'm very happy with this. Bass is all original from what I can tell, outside the oversized strap pins. The neck feels great, the fretwork as well is awesome. This feels like an old Precision that has been left to gathered dust. It feels like an old bass. But it sounds great and plays nicely.
It will need some TLC but I'm going to get her gig ready. TIs on the way.
Did I mention this cost me £50?