I have a 92 MIM Jazz Bass that cost me next to nothing, and I could have continued using it, but decided to upgrade to an Am Std. What can I say... this guitar is well built, beautifully finished, and has what I consider a classic Jazz bass tone - nice, thumpy lows, with that great metallic "tink" when the strings are attacked heavier. Like I said, I'm just starting out on bass, so I have yet to explore all the subtleties of bass playing, but I really don't think you can go wrong with a Fender American Standard, regardless of the model bass or guitar.
I will note that this is the second bass I received. The first one wasn't setup close to what I felt should be the case, and there was significant fret buzz on the G string between the 10th and 12th fret. But let this be a testament to MF's customer service. I shipped the first one back (quite painlessly) with the prepaid UPS shipping label they provided, and got the new one within a few days.