Really for strat tone, I'd stick with Alder for a 60's sound, swamp ash for a 50's sound, or hard ash for a 70's sound (basically).
Now if you just want a strat shaped guitar, I'd go with the mahogany body and choose p90's or humbuckers like Drak suggested. But I can't say for sure, as I've never played a mahogany body with Fender type single coils in it that I can remember (and I've been playing guitar for 17 years now, there must be a reason for this lack of mahogany body/single coil guitars?)