I purchased this guitar through Musician's Friend for about $800.
At the time, I wanted a 5-string guitar that looked a bit different, yet was still affordable (I had been previously playing a Fender MR-5). I liked the tone and the fact that this is one tough bass that really stays in shape. I take it to have a pro-setup done once-a-year, and over the past 2 years, only a minor adjustments to the truss-rod in the 2nd year was necessary (and this bass gets alot of use).
My only complaint is that after 3 or 4 hours, the weight of the bass can really start to be felt in my back. It is a HEAVY bass (maple body).
The construction is very solid. I have not had a single problem with it in the 2 and 1/2 years I have owned it (nothing coming loose, none of the electronics giving out, etc.). The quality is AAA for a 5-string bass under a grand.
Getting the Spector Rex5 was definitely a better purchase decision than the Fender MR-5 I also have. Since I am only getting older, the weight factor is really going to play into the purchase decision of my next bass. But unless you have back problems, and if you want something that looks a little different, this Spector is worth the purchase price.