A few years ago I blew my entire student loan on a honeyburst Les Paul Classic (I didn't want to waste my money on food, clothing and shelter :P ). Anyway, this thing looked great and was literally the most expensive guitar in the shop. But I can honestly say that once the novelty had wore off and I REALLY checked the thing out- it wasn't any better than my friend's £80 Aria Pro II.

Infact, we even did a sound for sound test and I can tell you that the Aria absolutely blew away the Les Paul hands down (more sustain, a warmer sound, etc).

Anyway, since those days I've became a full time supporter of cheap musical gear. I'll be sure to check these guys out.