I currently have a Fender American Deluxe Strat made in 1989. Guitar center says I can sell it for around $700 on ebay. It is almost in mint condition and has no playing problems. Pics here http://providence.craigslist.org/msg/1505967196.html.
Im selling this because I want to buy a Gibson Les Paul, more specifically this one (http://www.guitarcenter.com/Gibson-Les-Paul-Studio-Electric-Guitar-100010154-i1149139.gc) in the faded Cherry (chrome hardware) for $800. Should I keep my strat? (I play mostly metal/alt rock if it matters).
No. The les paul studio is hardly worth a nice strat like that. Just because its a gibson doesnt mean its good.
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