I've tried the MD sig (real NICE bass overal), but I'd go with that Model-T for several reasons (haven't played this Apocalypse model but the Model-T Session). Just be warned I'm lately sold on Schecter's Fender "impersonating" basses since acquiring a CV-5 early this year (I was about to get a T session 5, just decided on the CV-5 in the last minute).
1) Neck's thinner on the model-T (my CV-5, same neck profile used in Model-Ts, is THIN, like Ibanez SR thin, shredding fast).
2) Those guitar looking J-bucker pickups (same I have in my CV-5) are the best Fender "impersonators" I've owned. I briefly A/Bed my CV'5 with a friend's Custom Shop Precision bass (with one of the best Fender necks I've played) and it held it's own in terms of character but had plenty of extral nuances to choose from within the P range. And that's because...
3) ... that pickup configuration and coil tapping scheme (same on the CV basses) is the most versatile passive configuration possible, you can coil tap each pickup individually, then blend them (CVs come with a selector switch, I quickly swapped the switch in mine for a blend pot as this Model-T Apocalypse). This offers a lot of versatility. Only comparable passive bass I've played was a Peavey T-40, but the coil tapping is sorta' sketchy for my liking (no switches, but the tone controls for each pickup also serve as a "balance" between single coil or humbucking).
I've owned Fenders too (a couple MIJ Jazzes in the '90s) and really can appreciate the "real thing" mood about them but in this case, also considering the MD sig is MIM (the T Apocallypse is MIK) I don't think they should even be in the same price range, the Model-T is way more bang for the buck IMHO, not just because of more features (BTW, the carbon reinforced neck rocks) but because it's overall a higher quality instrument. In fact, and given we're talking split P pickups anyway, I'd get a Squier Matt Freeman sig P over that Mike Dirnt P any day of the week, my fave P growl and way better playability, wouldn't get a MIA P over that Matt Freeman P (spec'ed the same as the later Classic Vibe '70s P).