To me I'd rather spend money on a VERY nice used guitar than buy a medium priced new electric guitar.
In the last few years I've found a lot of good quality used guitars.
Most of them from pawnshops, and a few off of CL.
I just picked up this KILLER '03 Tom Anderson Hollow T Drop Top at a pawnshop yesterday.
This guitar with all it's appointments most likely ran about $3200-$3500 new.
I was able to use my silver forked tongue to get them down to $1200.
The deals on good quality high end electrics are out there.
It does take time and diligence to hunt them down.
I do put in a lot of time doing this 5 days a week.
Luckily for me, I do it during my sales route.
Here's some pics of my '03 Tom Anderson Hollow T Drop Top.