Re: Tell me about your dirt cheap guitar projects.
I picked up a 90's MIM strat at a pawn shop in Rockford, IL last year, for $50. There was nothing wrong with it, other than some chips in the finish on the back and sides. Gave it a good setup, put some Lace Sensors in it (which I bought used for $75, stock pickups were fine though FWIW), and cleaned it up. It's now a great playing, and sounding strat. For $125 total. I'd say thats a good deal for something I'll only ever use for recording (I hate strats).
Bought a Gator Jazzmaster case, and a Terrapin case for my bass player, for $40 total ($15 for the JM case, $25 for the bass case), at the same pawn shop. My drummer got an Old Gretch Snare (no idea what model) from the same place for $50.