I am not sure the exact age of mine, but I have a couple of recent "CIJ" Fenders that are excellent...Alder bodies, USA pickups, great finishes, and great workmanship. They stack up with anything out there, IMHO. The 'crafted' is just a change in semantics because "made in Japan" used to have a negative connotation. It's not like the C guitars are better than the M guitars at all...it's the same thing. I owned a few MIJ guitars back in the early/mid 90s and the newer ones are just a little nicer...more substantial and 'expensive' feeling. YMMV, of course.
There
may be a slight drop in quality between the guitars made for the Japanese market and the ones imported to the USA (which may have been not quite as slick in terms of materials and electronics) back ten or so years ago. I will probably replace the pickups on mine because I don't like Texas Specials much, but I think they are good right out of the box. A lot of people dis the switch and pots in both the Japanese market guitars and the imported ones as well, so you might wanna figure that in.
Fender Japan is still turning out great instruments and I think they are a great deal not so much for the price (they are not super cheap) as for the price/quality relationship, if that makes any sense. If you can get an older one, those are great deals too, as are Tokai and some of the other manufacturers.
You may hear that the older Japanese guitars are better, but in my experience that isn't the case. Both new and old are great. At least for the Fenders. The Tokai are another story altogether.
Try
www.guitargai.com for more info.