Squier's been comingout with some decent product lines, the classic vibe and the vintage modified being good examples.
It would be a great starter guitar, I say go for it.
Fender CP Jazzmaster
Schecter PT Custom w/ Dimarzio crunch lab/liquifire
Marshall JCM2000 DSL+Orange 4x12
Orange Tiny Terror+Mesa Electra Dyne 2x12
Boss TU-2/NS-2/DD-6
Maxon OD808

I previously owned a Vintage Modified Stratocaster and it was awful. Of course, perhaps I just had an unusually bad one or maybe the Teles are made better.
Yes, I know everything. No, I can't play worth a damn.
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Cheers for the replys. It looks just like a fender 72, shame thats £400 more!!