Pickups way back or no, the LPB-1 (three-knob passive flavor) is a phenomenally good sounding instrument. Mine's been my go-to bass for several years now. Mahogany plus ebony fretboard is a really nice combination, but I think what gets heard is mostly the pickups. Last time I recorded, running it direct via the preamp on my GB Shuttle with a hint of overdrive, the (well known) mix engineer solo'd the bass track and said "Oh yeah, THAT is a great bass sound."
And I'm not normally a fan of black hardware, but with the yellowburst on mine it looks so cool:
I saw it on auction on ebay some years back and couldn't restrain myself, I bought it totally on impulse - something I've rarely done and usually regretted, but this one's a long-term keeper. If only it weren't so heavy!