My friend was generous enough to give me a guitar (An S101 Standard. Made in China, pretty sure it's worth all of $20) so that I can break into the gear customizing world. So I'm doing a complete overhaul. That means new paint, new electronics, new pickups, the works.

My question is that if I do all of my parts through GFS would that be considered an upgrade from the stock parts? Or suitable enough to be a backup guitar?

Also, expect a thread soon with all of the actual building involved!
im not sure never heard of the breand before today but a quick google shows that s101 guitars arent too bad but replacing the pick ups is a must

anyway yeah gfs pick ups are pretty good cant comment on anything else form them though
Yeah same here. But the Pups are good indeed. Not sure what will be cheaper where your located ALLPARTS is where i got most of my stuff for modding my partscaster.
The Rig of Joy:
Stiff Amplification Dirthead 20w
Bugera 2x12 Cab
Fender Partscaster Korean Made
Epiphone Prophecy
Washburn Southern Cross 34 of 100
Ibanez TS9,AD9,GCB95, Multi Chorus and TU2
Depends on what you get really. GFS does carry some wilkinson and gotoh parts, which would be a nice upgrade, I can't speak for "their" stuff though. Really depends on what you get and need from them.
I'd get a prewired scratchplate from Bareknuckle, perhaps some Sperzel locking tuners, probably a graphtech nut precut, a proper fender style vintage trem replacement, as for the finish I'd relic the shit out of it, then sand it out a bit and slap 2-3 layers of clearcoat spray on it and be happy!

Refinishing the paint properly would possibly the most expensive part of the job. A mate of mine recently bought a strat body from Warmoth, beautiful quality stuff but he got it in Lake Placid Blue and the paint finish cost more than the body did.
Cornford Hellcat
Peavey 5150
1994 Ibanez Jem 7V