My sister got me a Peavey Signature Guitar for my B-Day almost a year ago. it's the only guitar i've ever played other then my Acoustic Fender. my question is... Is this a good Guitar? or should i try to sell it and get a diffrent one... i've heard of Fender, Ibenez and Gibson as being the top 3 makers to guitars, but i never heard anything about Peavey...

it kinda depends what you are comfortable with and what like the sound of and all, but not much comes close to beating any of those 3 guitar makers.
My Gear----
Squire Strat
Gibson Les Paul 1986 Custom
Cort mr740fx with Fisherman Prefix Plus Pickup
Mega 20watt amp
Squire 10watt amp
I have a Peavey HP Signature and I love it. Keep in mind that these guitars have a heavy influence of EVH in them and are remote cousins to the Wolfgang series that Peavey used to make (shape mostly, not hardware). Also, it stays in tune remarkably well. The smaller, compact size is also a plus (I think it makes the axe look very cool).