Here's a sound sample I did a few weeks ago, it's quite basic but should give you the answers you're looking for. I think it starts with neck pickup then goes both, and bridge, all EQ flat. I don't think it sounds much like a traditional Jazz bass, it's far too hifi and you can't really get a passive style tone from it, but the clarity of tone is exactly what I got from my Progress (which I traded in for this and a G&L L2000).
The EQ is very powerful for a 9v preamp (dare I say too much ?) and only minor adjustments can be made before it becomes overpowering. The centres for the treble pot and the treble boost switch are different so this gives a few more options.
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