I thionk they never had f-holes? The new one at the NAMM is very light. Like I said earlier, it's like they took just a Gretsch body and mounted Guild hardware and a Guild neck on it.
Well, it may be Gretsch style construction, but Gretsch doesn't make any basses that deep in the Les Paul shape. Gretsches tend to be bigger,like the Broadkaster. The Thunder Jet might be the closest to the M-85, but it is a hollowed out mahogany back with a cap (like a Gibson Midtown) so it has a more solid feel and tone quality to it. If the M-85 RI is more hollow, I think that would be good and a nice departure from the other LP-shaped basses currently on the market. Might have some Hofner-esque tonality with a hollow body and no f-holes.
You're right, I've never seen an M-85 with f-holes. BTW, as I get older, light basses are very attractive to me!