The bass is nice and well made in general. It certainly is very easy to transport, which is a huge plus (especially compared to an acoustic double bass). The sound is nice and full, although don't expect it to sound like a double bass, especially in the higher registers/thumb position, where it sounds somewhat like a fretless electric.
I bought it to see if I could even make it on the double bass and it certainly did its job: I bought an acoustic DB shortly after. I still use this one for crowded jam sessions, rehearsals or late-night practice: I prefer the acoustic but this is so much more convenient and for the price sounds well enough. And the possibility of connecting your headphones straight to the bass is simply great. Also, the gig bag and bow are a nice touch (although the bow broke after a month).
A few things to keep in mind, though:
* it's much closer to your body and much more vertical than a double bass, so getting a good left-hand technique is tricky and playing arco (especially german bow) is quite a challenge.
* moreover, it's very light: when you press down on the strings (instead of squeezing the neck), the endpin can pop off the ground, causing an embarrassing slide of the whole bass (been there).
* there are dots on the side of the neck, which is incredibly helpful at first but can give you a bad habit of looking at your left hand
* in general, the bass feels quite wobbly and light, you can lift it off the ground by shifting up the neck.
When I'm practicing with this one I'm putting the endpin in the corner between the wall and the floor -- sounds stupid but prevents the bass from sliding and lets me use my left hand correctly ;)
But for this kind of money, I doubt you'll get anything better. The NS design basses are... weird. The Yamahas are closer to an acoustic DB but in a whole different price range.