I love my Chinese-made Peavey NTB 5-er I picked up at a pawn shop. I was in there killing time a few years ago vaguely looking for a budget 5 string to play out with, and picked it up just to noodle. The dang thing blew me away instantly. I played plenty of US-made Cirrus basses, its upmarket inspiration, when they first came out, and all of them left me cold, but my cheapie little Chinese Peavey kicks serious ass, as do my VB-2 and Classic 400 amps and 4x12TFX cabinet, which seems to weigh about as much as two SVT cabs put together.
They have pretty much abandoned Trace Elliot as anything but a budget line after all kinds of QC problems with their updated versions of classic Trace Elliot amps, which was a shame because while they didn't sound like old Trace Elliots, they did have a unique tone that wasn't exactly "Peavey" either, but those amps were even LESS reliable than the ones produced under Gibson ownership, and that's saying something.
They have pretty much abandoned Trace Elliot as anything but a budget line after all kinds of QC problems with their updated versions of classic Trace Elliot amps, which was a shame because while they didn't sound like old Trace Elliots, they did have a unique tone that wasn't exactly "Peavey" either, but those amps were even LESS reliable than the ones produced under Gibson ownership, and that's saying something.