This is the first guitar I have owned, and have bought it to learn along with a few lessons and on Rock Band 3. First impressions were very good. Even the staff at the local music shop were impressed with its looks. (They had never heard of the guitar before I asked about ordering it, hence why I bought one from Andertons).
Played through my Fender practice amp, it sounds just as good as my Dads old Fender copy with its multiple pickups. Maybe from a more accomplished player's point of view it may not be too hot, but certainly for a novice, or above, its definately got a good enough sound.
It will need setting up though, not just for playing through the console game, but to play with through the amp - and as it is very easy to snap the truss rod, if you are not sure - then take it to a professional who can do it for you.
Playing with Rock Band - using the mute does spoil the sound a little, so you may find it better to adjust the pickup sensitivity (again, ask a Fender dealer). Nearly set up perfect now, it will play through both game and amp unmuted with very few miss hits. (If you have rock band 3 you will know what I mean).
Yes there are more expensive better sounding Strats out there, and better performing midi guitars - but for a hybrid like this which combines all 3, especially for the price, it is a craacking guitar.