Sounds like it'd be great to experiment with; if it ends up god-awful, you can rest easy knowing it was cheapo geetar. My experience with the Squier Affinitys is pretty much what is said above - electronics are crap, hardware is pretty crap, but otherwise they are (usually) solid.
When I was but a young pup in guitar-playing, my uncle told me "The guitar doesn't know what country it came from. Maple is maple." (I don't always agree 100% with this statement, but 9 times outta 10, its true)