Ok, I have dropped a clanger.

I impulse bought a project guitar from fleabay because I liked the shape of the body.

I have yet to collect it but I am paying £35 for it and it has no bridge or back plate.

I have since found out that it is a Swift Black Wicked and is a cheapo brand offered for £50 complete with bag, strap and lead. Quality indeed!
See here :http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=350163404078

A new licensed Floyd Rose tremelo bridge will cost me about £35-40 and a back plate around £7 but this wouldn't match the existing controls backplate so that would have to be made from scratch from the same material as the trem backplate.

The paint work is chipped so I will have to strip and repaint it. It will need a set of strings.

The only way I can see this going anywhere is if I mod it over and above the spec that it originally came with plus maybe add some gimmicks (LEDs, metal pickguard, different paint job etc).

I do still like the body shape but don't want to flog a dead horse so what would the general consensus be?

1. Pay my £35 and use the guitar for firewood.
2. Do a basic do-over to make it playable with a cheap floyd rose copy.
3. Go the whole hog and mod it to death.

What mods would actually be worthwhile if I do go this route?

Luthiers and guitar mod freaks opinions very welcome

I think you should mod the ****t outta it like make it a bad ass metal guitar with flames and ****t.
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I dunno what wood it's made of. I have seen reviews of swift before though, 'cos I was considering purchasing one as a project. Sharp frets and poor neck relief were pretty common problems. So...up to you if it's worth the effort, or to get a squier or something like that, which at least undergoes -some- sort of quality control.
man i found and old squier that was broke down. so i stripped the paint on it put a bitchin american flag paint job on it. put some lacie pickups on it and i love playing that thing. go for it man id put a sweet flame paint job on that thing
Thanks for your feedback guys. These were the answers I wanted to hear as I'm kinda tempted to do this if nothing else but for the experience. How much can I lose eh?

I've done as suggested and posted the message onto the Gear Building forum to save clogging up this forum.

Thanks again!
i would take a look at your budget and how quickly youd be able to do things at the pace to suit your wants and needs. if you can, maybe just get a better guitar and use that un modded for a little while till you have more funds and slowly mod that. but if you can only afford doing a bit here and there to mod this new baby then you should probably just do that if you cant wait. like someone else said, you mod this with the parts you want, and you can use them later for another.

..unless the winters are really bad over there, but its almost spring
I fancy doing a number on one of those. Pretty sure its a plywood PoS but so what? I just saw a post on a UK site today where a tech warned that Swifts usually need some serious work on the ends of the frets as they seem to be sawn off and left sharp.
But that Wicked is a great shape and you could even sell off the pups for that money. Can't really lose if you fancy doing the work.
I pick up my guitar and play
Just like Yesterday

T C Ellis Series 2 LP w/Skatterbrane Quiescence pups
Cort EVL-K6
Yamaha RGX211 modded
H&S Electric 12-string
Shaftsbury Ricki 4001
'84 Fender Yale
Roland Cube 15x

I'm not bothered by how long it takes me as I play my Kimbara and my Stratacoustic at the mo.

Re Budget, I don't want to pour too much money into such a cheap guitar, so I'm going to restrict the amount of expensive hardware I buy and rely on my own work and 'quirkyness' that I can put into the guitar.
I'm thinking of maybe a real Frantensteins monster type feel with maybe using hex head screws instead of countersunk in the scratchplate to give an industrial look, that sort of thing.
I'll run with the existing pickups (unless they are real dogs) and electrics. I can file down the fret ends if they are a problem. If the neck or body are bad then I'll just shelve the idea. Apart from the LFR it's just going to be a cosmetic makeover.

I am not very artistic with a paint brush so if I do a custom job I'll have to look for a transfer or something I think.

Thanks to all, I've made the decision to go for it dependent on the above.