Hey Troy,
My personal experience with the action on my alembics has been that they are the best playing basses I own. They do, however, tend to need frequent adjustment (I live in South Carolina, though, where it's about 100% humidity year round). If you keep your alembic set up properly, though, it'll play just as well if not better than any bass around. If you don't want to take the time to adjust, it can get kind of medium-high.
Just my two cents. I'm sure the others can add a few bucks :]
Austin