There's not really a lot of difference between the Squier and MIM Fenders, or even MIA ones, if you ask me. I was working at GC in '83 when they came out - we got our first shipment of $150 Squiers the same day we got our first $1500 Stratocaster Elite (outrageously expensive for the time). I fiddled with that Elite most of the day every day for a week, and couldn't get it to play as well as the Squiers did right out of the box. For a beater instrument, you can't (ahem) beat them. Musician's Friend currently sells the Squier MVFJB for, as Mike says, $279. The Standard Jazz Bass goes for $230, and currently they have at least one blem piece for $195. If you're really looking to save a little, don't let the blem scare you. My son got the Fender Blonde Blues Jr. amp he'd been lusting after for Winter Solstice last year - knowing his idea of a clothing boutique is the Salvation Army store, I went blem for $90 less. Turns out blem can just mean the box was opened - it was pristine.
Peter