I bought this guitar about 2 months after I first saw it in the guitar store. I went in looking for a new Fender Strat, and tried this one with them after noticing the orange quilt top. After about 2 minutes of playing it, I knew it to be a superior guitar to the Fender. I paid about $500 for it.
The neck is extremely fast and the jumbo frets buzz a lot less than a fender's. The Duncan Designed pickups (Hum/Single/Single) have incredible tone and each combination has its own sound. The Floyd Rose tremolo is excellent, and it eve cut-away behind it so that you can pull it back as well as dive bomb. The neck is the most heavily flamed piece of tiger maple I have ever seen in my life (and I have seen many nicely flamed Gibsons) and plays extremely well. The Humbucker lead pickup is awesome. When you jack-up the tone and volume knobs, you can get natural distortion even from the clean channel of a transistor amp. When you turn them down a little you get a beautiful clean, warm tone that sounds great.
If you open up the inside of the guitar, the pickup selector switch is a cheapo, but the rest of the stuff is nice. Also, I think the capacitor is too big and cuts off some of the brightness. My only other problem is that the quilt top seems to be a thick (1/16") veneer instead of a fully bound curly-maple cap. But that has no effect on the playing.
Everything is perfectly built. The only better built guitars I have seen are some vintage guitars and the new PRS models. If you put it side by side with an American strat, the build quality on the strat looks like crap. The woodwork is excellent in every detail, and everything is set perfectly. Even the soldering job in the body is very well done.
Excellent guitar. I don't think any other Fat-Srat style guitar, for any price, is this good (I tried Ibanez, Fernandes, Fender, Jacksons, and a few others). PRS may be the only current manufacturer that makes a better guitar, but they don't have this style.