As Dave notes, the GB technology gave Fender a nice entry into lightweight amps, and the Rumble 100 I have is a real winner. The guys I know who have those amps love them. Although I was sad to see G-B disappear, Fender did well with the tech.
For that matter, IMO Fender has done pretty darn well as a steward of Gretsch, my favorite line of basses. They've kept Gretsch tradition going, the instruments are well made, and they have the Electromatic and Pro lines to provide some nice price and feature options.
Overall, I think Fender has done pretty well with the brands they have picked up over the past couple of decades.