I joined a band and the bass they gave me to play during practice/live is a Martin Stinger bass, very similar to the one you have except mine is a Precision bass copy.
Not too much background noise, and the sound is pretty good. The action is a little high at the moment, and if I have to play a song that consists mostly of frets 1-4, my hand gets a bit cramped by the end of the song.
Not worth much at all. I've seen them go for $100-200 used. The Martin Stinger bass gets the job done, but it's just not really anything special. I'm saving up at the moment to buy an actual Fender Precision bass.
edit: and to the guy who asked, I don't think these basses are short scale, or at least the particular one I use isn't.