I stupidly posted this in electric guitar as a result of a lapse in concentration so I figured I'd repost here before it gets moved. The general consensus (from two replies) is go for a good quality amp which would imply I should save up for an even better one that the Microcube.

Ok so my birthday is coming up and I'm using this opportunity to expand my limited collection. I own a fender squire strat affinity and a frontman 15G amp (the usual package for a first electric) and I've been playing guitar for about 4 years, most of which being spent on acoustic before going electric. I don't want a new guitar because I have a limited amount of money to spend on my present and I would like my next guitar to be of much better quality then around $300 AU.

At the moment I'm tossing up between getting an amp or multi-effects pedal. If I was to get an amp I'd almost definitely get a Roland Microcube. Just because of the durability, versatility and the sound is much better than my amp for its size. Also the built in effects certainly help. I also have my eye on a couple of effects pedals on ebay and locally. I'm thinking maybe a Boss ME-30 second hand for around $100-$200 AU. I figure this is the best option effects wise because I know I will be playing guitar for the rest of my life and why go for a lesser quality zoom or line 6 when I can invest in something like this and keep it for years to come?

So that is my situation and I would really appreciate any comments, opinions or suggestions on what to do. Thanks in advance.

Oh yes and I should probably mention my style. I play mostly jazz/blues and classic to hard rock. I don't really play metal but some of the stuff I listen to is almost there eg. Rage Against the Machine and Muse.
buy something used, and maybe mod you squier, put new tuners and a humbucker.
Yeah I'm planning on doing a modding job once I've upgraded all my stuff including my guitar just in case I stuff something up and the guitar stops working.