I'm wondering if there isn't a capacitor wired into the neck pickups circuit that's making it sound so bassy and muffled. I was pretty surprised at how dull this neck pickup sounds, the bridge one sounds ok from what I could tell. I must say that I now see what many people meant by the neck pickup being way too muffled and bassy.
Today I dropped in to put another $40 deposit on it and this time I asked if I could plug her into an amp and they let me. The feel of the neck and the low price tag was enough to make me want it even though I had no idea of how it would sound. Last week I put it on layaway but never had a chance to plug in and play it through an amp. I don't know how Peavey's date code worked but would this be a 1982 model year? on the headstock and the serial number is 08231863. I posted something here last week about my finding a used Peavey Reactor Tele copy in a pawnshop, I'm getting it for $200 taxes in.