I love this pickup. Altough the solderless system is not really a must (I'm pretty capable of soldering two cables), this pickup really delivers. It's clear, full and balanced. Response very well to your picking dynamics. I would compare the pickup most to the stock MIM pickup. Also very clear, but the MIM feels a little lifeless to me. This is a exactly what I wanted.
The manual is however not a 100% clear all the time, so you have to guess a little bit. Pickup height recommendation was not specified, but I used the recommendation from Fender and that has worked out just fine.
My only improvement would be the price. The SPB-1 for instance is 30 euro's cheaper. But if you need new pots and don't know how to solder this is probably cheaper then the SPB-1.