
I have a Mexico-made Squier Stratocaster that I bought from the pawn shop, thinking I made a really good deal. However, this Strat is not of the same quality as the current Indonesian Squiers. I am not sure when mine was made, but I'm guessing it's around 10 years old. A lot has happened since then when it comes to quality and price of guitars!
I had the frets crowned and fixed. A friend of mine did this for me, and the neck is now really nice and the guitar is easy to play. It came with a crappy plastic nut, which you should replace right away with a bone or Tusq nut.
I did one significant upgrade to this guitar - I installed a set of Fender Custom Shop '54 single coil pickups. They are very sweet sounding, except for the bridge pickup, which I find overly bright and harsh. Otherwise, they "jingle and jangle" and have the spark to them that you associate with higher end guitars. Very nice pickups for that vintage sound.
The bridge was so-so; I strongly recommend an upgrade here. Check guitarfetish.com for some decent replacement bridges.
The Strat I talk about above is no longer in production, but the strat below is a much better guitar. Highly recommended.