I am looking to buy a new electric soon and it turns out both of these guitars are about the same price where I am (~$900 Canadian).

I play mainly rock and metal (Zeppelin, GNR, Metallica, White Stripes, NOFX...) but I dabble in a bit of everything from country to pop etc.
but I think both of these guitars are quite versatile and would really just like some opinions from anyone who has experience with either guitar.
I havent listed my amp as I am going to buy one shortly after getting a new guitar (right now I am just using a fender frontman practice amp lol) and will pick something that suits the new guitar.

The ISG comes with active humbuckers with a passive switch, I have heard lots of good things about these guitars...
The Les Paul comes with passive pups, I think the tone on these is pretty sweet and could be used in a wide variety of ways...

thanks for the advice!
that's the kind of thing that you can only find out for yourself - don't let anyone elses opinion influence your decision.

you just have to try them both and find out which you like best.
I like analogue Solid State amps that make no effort to be "tube-like", and I'm proud of it...

...A little too proud, to be honest.
FWIW, the 2011 LP Faded Studio's now have carved maple tops as opposed to being all Mahogany. They've kept the MAP at $799 US which really makes them an excellent buy. The only thing that separates them now from the normal $1,319 studios is some grain filler and shiny paint (neither of which make it a better 'instrument'). Yes, they have BurstBuckers instead of 49X's but that just a pickup preference, not a downgrade.

So, when shopping for Faded studios make sure you check out both the older all mahogany ones as well as the new maple capped ones (serial dates on or after Dec 2010). You might prefer the all Mahog, but the maple capped ones are really nice. Maple doesn't need grain filler so that top will actually feel pretty damn smooth.