Right now I have a 2000 Les Paul DC Standard with Santana I pickups, which is great for blues, and classic/modern rock, and my dad's 30 year old ovation (which doesn't have a piezo ). My amp and effects setup is top notch, and is in no need of replacement. I mainly listen to prog rock and prog metal (Dream Theater, Spock's Beard, Cynic, Porcupine Tree, Pure Reason Revolution). My band plays a mix of Classic Rock, Hard Rock, and Modern Rock (Velvet Revolver, Collective Soul, Muse, RHCP, Foreigner, Mute Math). I also play guitar in my school's jazz band (mainly Chicago type stuff). On top of that, I have an interest in flamenco guitar . Up until now I have been saving up for a versatile guitar that could be adequately used for all of these styles (used Parker Nitefly of Fly mojo), but it would compromise the quality of the sound. Right now, I mainly play live, so a versatile guitar like the Parker might be the right guitar, but I'm not sure. I have around $1500 to spend. Right now, my main choices are a Fender deluxe ash, which is around $1350, and an Ibanez (trying to find a used JEM77V Steve Vai Signature). Do you guys have any recommendations?
You could try the Joe Satriani sig if you want an Ibanez. Jem's a great guitar though, get that if you can find one.
depending on how urgent you need a guitar or how long you can wait, i would go for a Carvin...there beauts and versatile as hell

Soon to have Carvin California Carved Top
Fender MIM Strat (Warthog, Spotlight, Condor)
Epiphone Les Paul Custom
VOX Valetronix Combo
Boss ME-50
Alvarez Acoustic
rg 1570 seems like a good option if I can't find a JEM or if I don't want to blow all of my money. Satch sig looks good, but I think if I spend that much on a guitar I'll end up kicking myself for not saving up the extra $600 for the JEM.

I actually thought about making a guitar; I just kept complicating it too much (fanned frets, deep set neck tendon, coil tapping, etc...). Maybe someday when I have more time