Re: The best cheap gear you've had.
1) VOX AD15VT - my most gigged amp of all time. 1x8", 15W.
It sounds SO GOOD I left the tube head and/or the tube combo + pedals at home. AD15VT + an SM57 and monitors = great tone, easy stage volume, happy crowd, happy soundguy, happy me. $189 new.
2) Epiphone Dot Studio - my favorite guitar. I replaced everything but the wood, but I knew
when I first played it, it had magic in it. And it does, and it's even closer to the surface now with all the nice hardware I put on it. Sounds and feels chewy and has a weird depth and timbre that I haven't felt or heard anywhere else. $269 new, bought it while shopping for Les Pauls that were literally 10x that price.
3) Squier '51 - my baby, forever. This guitar was terrible when it was new. Bad fret ends, tall narrow frets, terrible electronics, just all around no-bueno. But, like Chris of Arabia said so eloquently earlier, it took well to surgery. And it's had all sorts of stuff done to it (once had P-Rails + Triple Shot + Splittable '59 for 14 unique options) and
seems to sound good and feel good in any configuration. This is the guitar you take to the gig after staring at your 'spensive axes and deciding that this one is just plain more fun to play. $99 new.
4) Digitech Bad Monkey - believe the hype. I don't know if the hype is still going on - probably not since there's a million boutique and boucheap options out there today. This is a deliciously smooth tubescreamer with independent bass and treble controls that sounds like your amps sounds, so it's great if you have a good amp. $30 used.
5) SX Telecaster knockoff. I put a TUSQ nut on mine and
it sounds awesome. It plays better-than-good. It sounds-better-than-good. It looks better-than-good. $119 new. The idea that a whole guitar, with a finish, and fretwork, and paint, and electronics, and made in another country and shipped to my stupid house, for $119, it just boggles my mind.