The Ibanez 5-string I had was the worst bass I've ever played - just like their guitars it was really thin and weak sounding, which is the polar opposite of what you want really.
Keep an eye out for second-hand Waricks (or even a Rockbass). You probably won't find many at that price, and they don't really have the Fender-y sound, but you'll never regret it. Although Fender's have a great sound, I don't think they do much else, and when I was still new to playing I wanted something that I'd be able to experiment with tonally. I had a 5-string Musicman Sub for a while and it literally had one sound - there was no way to make it sound smooth and bubbly. I got so fed up with it I sold it.
I'm a big fan of Yamaha basses - fairly cheap but really versatile and built like tanks. Their hardware is normally pretty good too, and I find them nicer to play than most in that price range. I'd take them over Schecter, Ibanez, Dean and ESP.
Steve
