Go for the Ibby! The bass player in a former band had one and it played and sounded great. However, Squier has upped their quality, too, and makes a fine product. For what you're buying it for, I don't think you would be underserved with either.
In my last band, where I played bass, the band bought me a bass to borrow for gigs, as I was light on cashola. It was a low end Yamaha, short scale, and it had a beautiful flame maple neck. The only issue was a tuner that wouldn't hold a tune for very long.
Guitars:
Fender 2006 MIM Fender Stratocaster HSS in 3TS
Ibanez RG 570 with a bridge Invader
ESP M II Deluxe with a Tune-o-Matic bridge
Eleanor, the magical, mystical Road Worn wonder Tele
Blackstar HT Club 40