Brilliant quality out of the box, for the price I cant rate this high enough. The neck is like butter, so easy to get around. The guitar is very well balanced. A few review were saying the guitar is neck heavy, this is not true. The tone and volume pots are also excellent, you get the full range, whereas so many volume and tone pots only really start working at around 70% of the turn. Pickups are on the brighter side, almost like a strat tone considering they are humbuckers, but I can get gorgeous warm tones out of them too. Maybe not really for high gain stuff but I dont touch that sorta stuff. Neck Bridge and Middle tones are all completely usable.
I brought it to my luthier for a setup along with another fender MiM after I got it, and this really caught his attention. He was very taken aback by the quality of the guitar and when I asked him what he thought of it after eyeing it up for about 5 minutes, he said quite seriously, that it was "bloody fantastic", so there you have it!