I got a Squier that I got almost for free, and have been toying with it for the last 2 years. It now have a EMG KH-21 pick guard and it's in for mayor work as soon as I get it back. The body is ply wood, I found out when I routed for the KH-21 but it sound good. I'm going to get a piece of maple or alder at least 1/4" thick and 'm going to plane that amount from the top of the body, to place it there like a cap. I am going to take the tremolo out and put a string thru hard tail and if I got some money left I will do the same thing for the back and put some mahogany there. This will be enough practice with the planner-router before I order a body blank and decide to do my first guitar from scrap.
The neck on the Squier has never bowed, warped or anything else. I got a real low action, and it barely buzzes (the action is reeeeaaaalllyyyy low) so I'm happy with it. A frieng played in Germany while stationed there and he have a Fender American and he was surprised at the sound of it.
I guess that there are some bad guitars out there that get all the bad rep to one brand. George Lynch whent to say that Kreamer where pieces of sh*t but some player say they were awsome guitars. (I'm not talking about the cheap ones coming out now) My first axe was a kramer Focus 1000 that I bought in 1986, and it was the best feeling guitar that I ever had, I cant imagine having an EMG-81 on it back then. O well just play the thing, if you like it, play it. I never buy somenthing thinking in resale them, once I work on somenthing I take pride on my job and find id difficult to get rid off.
Have a nice day and keep on shreeding, cutting, routing, finishing... you get the Idea, good work