I've been thinking about getting a new guitar to keep in D standard/ drop C, and I saw that the Squier '51's are on uber- clearance at MF for about $75. I'd probably put a Dimarzio Drop sonic or something in the bridge and a new single- coil in the neck, as well. Could I also put an OFR in it? How much routing would that require?

Anyway, do you guys think this would be a good idea? It'd be a long- term thing, I won't be able to finish until at least the end of summer, money- wise. Also, any suggestions for pickups would be appreciated, as well. I'd be playing mostly metal on it, though a Mesa F30. My other guitar's a Les Paul Studio.
I say no. The pickups arent the main source of tone in a guitar, its mostly wood type and construction quality. Save up for a good guitar used on ebay, maybe something with a few nicks in it to lower the cost, then put Bareknuckle picups in it, they are the only pickups i have in my guitars (with about 3 exceptions), and i have nearly 15 guitars. Also, try and find one that already has an OFR, or even an LFR, then swap it out and put the LFR on ebay. But to be honest, ive played a LOT of different tremelo's out there, and I prefer the new Kahler's over an OFR anyday.