First of all, don't expect it to be a Steinberger like the ones from the eighties. Once you get that out of your mind, you can grasp the concept, to have an instrument which takes away many things some instruments have just by tradition and make it as functional as possible. Sure, it is not made in Newburgh or made of carbon fiber-graphite composite, but what you get is awesome. I had this exact bass, but I purchased it through the MusicYo website back in the nineties. Hey, I even wrote to Ned Steinberger to get his opinion on the Spirits, and he is such a humble and approachable man that he wrote back, saying he thought these were fine instruments. I regretted so much selling mine 3 years ago that I just purchased another one recently, hoping to hold to it forever, since I don't think these little guys will be produced a lot.
What you get is an excellent instrument, more than you would expect from the price you pay: nice tone, portability, versatility and a very good construction, which for me it makes more sense, since I don't think I could come to terms with spending US$1200 on a Synapse, being manufactured in probably the same kind of factories where the Spirits are (were?) made. For that kind of money I rather try to collect $300 more and get a good Musicman Stingray, which I did a year ago.
The point?: If you want a good portable bass that will amaze you with the basic setting, this is the one. If I could get a real XL2 I would without a doubt, but if you like the concept, this is the way to go, lot of bass for the money, and for me makes more sense than $1500 for a Synapse, made in the same factories as these babies.
Only changes?: The only things you might consider changing are probably:
Pick Ups: The basic ones (EMG Select) are very good, but maybe not very good for very demanding musicians. I was impressed with the ones I had, but not being a pro musician means mine were very good for my needs.
Support hook: You can consider buying the extension hook for a Synapse bass, attach it to the back of this bass. Mine tended to crawl away from me because of where the button straps were located, and the higher frets got very far, which made it uncomfortable after a while. As you might know, the original XL2 had a boomerang like contraption on the back, to which the strap was attached for a perfect support, so the hook serves the same purpose. There are even other things, such as what Ned Steinberger sells (Ned Steinberger Design) for his more modern basses, but are expensive.
A bass that you will surely enjoy, hope they keep making them, but just in case get one before they disappear.