#2
I always saw the signature series of anything as a way to get a little closer to your hero, so to speak. If you're a huge fan, and the guitar isn't terribly overpriced for the quality you get, then yes. Squiers being what they are, it might not be crazy expensive. Try and play one and see what you think.
Hell, I would love to have an ESP MX-220, but the cost of one right now tells me I don't need it.
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#3
I would put it in the same category as a MIM Telecaster from Fender, wouldn't be shocked if they were actually made in the same factory. As an entry level guitar it is probably great, it might need a bit of a setup to get it to play great, sometimes those cheaper guitars come with a real piss poor setup on them. But I myself owned a MIM Strat for a while and it was a great guitar that had nice strat sounds, the only issue I had was the single coil pickups didn't have enough output to really breakup my amp. The guitar you are looking at however has humbuckers so this wont be an issue at all. People see the name Squier and think it is cheap crap and for the most part they are usually right but Squier does have some home runs, I still suggest the Classic Vibe Strat and Tele to anyone on a limited budget as those things are beast guitars for the price. I would certainly say try one out and see if it fits your bill, because it certainly isn't a garbage guitar.
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#4
The one i played a couple years ago didn't leave a great impression. It wasn't bad at all, but felt kinda lower quality than other Squier models like the Classic Vibe or Vintage Modified ones, which are top-notch.
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