#1
Ok, so I was cruising the Craigslist the other day, and I saw that someone was selling a '66 Mustang, and so I went kinda, you know , but at the same time, I wasn't sure if it was a good deal. It's $600, but it's been refretted and refinished, the pick ups have been replaced (with Seymour Duncan SHR-1 Hot Rails) and is currently missing a tuning head.
#2
Missing a tuning head? That should knock the price down a little bit.
Set Up

Fender Highway One Stratocaster
Fender Princeton Chorus Amp
Fender Acoustic 12 String
Samick Acoustic 6 String
Line 6 POD X3 Live
#3
pretty sure it's worth it. i've got a left handed '68 i switched around, and it's, well, amazing. There probably couldn't be a guitar i love more in this world. I know my guitar, in the slightly beat up condition it is in, is worth about $1,300, so, to me this seems like a pretty good deal. I would try to find the original pickups online (i only have one) but they sound reaaaaalll nice. I would go for it. Unless you're really into metal, the old pickups can get pretty bad feedback on something high gain.