I'm sure that it's not a voodoo-wood though. I've heard nothing but good things about the use of ovangkol, but then again the same applies to bubinga, wenge, rosewoods....
I believe that Warwick use solid building fundamentals and don't skimp or cut corners. You don't find a low-end Warwick which is a basswood body and "xxx Designed" pickups. You get good wood, good design, good electronics and purpose-built hardware. Even the most basic of Warwicks (say, Vampyre SN?) has better build features than most off-the-shelf name brand instruments.
Manufacturers that don't pander to the amateur market are few and far between. I was surprised when Warwick introduced the "Rockbass" line. That said, the real deal Warwicks are still the real deal.
On the subject of grind, I was fascinated by the Thunderbird voodoo for a while till I built my own with a few basic common sense improvements. Old growth mahogany central laminate, two wenge laminates and mahogany outers and wings. Plenty of weight on the headstock and a three-point bridge with EMG35-DCs. Man, does that bass grind.
I would have to say that I subscribe to the school of tone being as good as your weakest link. Factor them out and you raise the bar.