Re: Strat action
Try to get all the saddles adjusted to the perfect height, so that when you bend a whole note up, the note is just a tiny bit short of fretting out.
Adjust the trussrod so that when you depress the 1st and 14th fret, there's just a little glimmer of light between the top of the 7th fret and low E string. Sometimes, I make tiny adjustments with the trussrod, so the majority of fretbuzz on the neck disappears.
Your final step is intonation. Go to Rainmaker's Intonation thread in the Vault. I wrote a detailed tutorial on fine tuning your intonation.