I've been soooo tempted by Warmoth... A nice swamp ash body, maple neck... hmmm!
Regarding custom vs production. It's a tough one. I have a couple of customs, Blackmachine, and a lot of this is supporting the builder. Doug's ace, and I'm in to what he does as a purely personal thing.
However, if we jumped to list price, the most expensive guitar I own is a limited run PRS, rather then a custom. This guitar is something of a guilty pleasure. I don't use it much but it's lovely to play (sounds great too, BKPed obviously).
Taking it back to production instruments, I've been through a few very decent Jacksons, Carvins, Schecters, Ibanez, etc. Is there a difference between them and the higher end or productions? Yes... Is it worth the extra? Ummmm, completely subjective. I'm not a pro so my instruments are not tools in the strictest sense. Is a custom worth 4x the purely financial value of a good production instrument?
This is subjective and debatable, IMO. I enjoy having that option, but, for instance, on a couple of occasions I've tossed up between buying a (cheap) car and a guitar. Guitars won. Personal choice, and the choice of someone who is in just about the position to make it. If I was a pro, I would not necessarily be in the position to make the same decision.
Never pretended to know what I was on about..!! ;)