from what i found by searching "mako guitars" is that they are good replicas to the standard of japanese tokais
I can't really tell you how they play because mine came completely naked, no electronics, no strings, nothing. I have a Mako T Series. Essentially, it's a Randy Rhoads V knock off with a set neck. According to my research, when it was brand new it was $400, had Dimarzio Super Distortions, and was an incredible axe. I have no idea where mine was made though.
I'd assume it would be hard to make guitars from Mako, with it being the life force and all, Sephiroth probably wouldn't be too happy about that.
i also have a mako guitar i got it takin apart now gonna paint and all that stuff but before it played just as good as a real tele. but everything witht ot hel on it the pick ups and stuff i mean i didnt even knowi t was a mako till i sanded the head stock and little and seen mako on the neck barly on the bottem of the neck wher it attaches to the body it says tx lt2 theni guess some chinise japan if its really from japan or w/e