I've got several Squier guitars and most of them I have gigged with. The reason I got into them is mainly because the necks fit my hand better than the American versions. They just felt better to me.
My favorites that I own are: Pro Tone Strat, J Mascis Jazzmaster, Classic Vibe Strats (60s and 50s), and 2 Deluxe Strats. They are all well built and very playable, have not been modified, and I really like them.
I've run into many of the Affinity series in stores that were really very nice. They played and sounded really good. I just never made the purchase.
Francis Dunnery from the 90s band It Bites had a very successful career playing a Squier Strat, and that guy can really play.
I've never subscribed to the stigma that it's a "Squier" and therefore shouldn't be played in public. If it's a good instrument and it works for me then I really don't care what name is on the headstock.
Here is a pretty good example of a guy that knows his stuff, can really play (with the Allman Brothers and Greg Allman Band), playing and talking about his Squier guitars.