Weren't some of the original Fenders made from pine? I remember reading that somewhere, maybe uncle mel's book?(which should be the faq's for this type of discusion)
For the most part the woods we use now are bassed on tradition, so try something new. Fender mostly choose woods, from what i hear, for price and convience. Iv'e seen all sorts of stuff in my pawn guitar shop journeys, Oak Ibanez's etc...