In terms of Fender i'd have to say Musicmasters here, in the UK you can pick one up for under £350, its a vintage guitar and the neck alone is superb.
I'd personally vote for these three on my experiences;
1. Peavey Predator USA. You can still get these for under £100 and they will give most Strats a run for their money. Superb neck and total quality.
![Image](http://i6.photobucket.com/albums/y222/franlubas/61157769_1.jpg)
2. Yamaha SG200. The no frills MIJ model that delivers all the tone of the more expensive models. No longer dirt cheap but you still find them for around £200. Mine easily held its own with my friends Gibson SG Standard.
![Image](http://i6.photobucket.com/albums/y222/franlubas/1fc1c1c2db5852e08ffc380475e26336a1d702bf59c8b70f153d53dc67820267.jpg)
3. Westone Spectrum ST. Matsumoku made, the neck has an almost vintage Mustang feel but with larger frets. Superbly made and still available s/h for under £100.
![Image](http://i6.photobucket.com/albums/y222/franlubas/dsc02411.jpg)