I think its fair to say that the Japanese strats are at least as good as the USA made ones.
I have a MIJ strat, and was delighted with it as soon as I got it.
There are 2 types you can get, which are basswood bodys with stock pickups, or alder body with texas specials.
The weakness of MIJ is the electronics, but these can be swapped out fairly simply (especially if you are looking to upgrade to Bareknuckle pick ups).
What you have to get is a "non-export" model, which is one that Fender didn't want to leave Japan, as the quality is better than the ones that they do export. This limits your purchasing options, but these websites might be usefull...
http://www.guitaremporium.co.uk/A good informative website, though the person who runs it was very rude and unhelpful when I emailed him, so I chose not to purchase from here, but its worth a look around, even if only to find out what you want to buy.
http://www.fareastguitars.co.uk/These are second hand guitars that he imports from Japan, though they are in near mint condition (and any blemishes are well noted in the extensive photographs).
I cant find the website where I purchased mine, but I'll have a route round and if I find it Ill post it here. It was a shop based in Northern Ireland, selling brand new japanese fenders, for slightly cheaper than the guitar emporium, and they also had an exellent return policy, so that you had 10 days with the guitar, and if you didn't like it you could return it for your money back, no questions asked! The guitar emporium agreed to pricematch this website, but not to the return policy, and I didn't like to buy "blind" so to speak, when there was an option of effectively "try before you buy".
38th Beatle is a member of these forums who has USA strat and a Jap strat, so I'd seek out his opinions, as he was very helpfull when I was asking around before I bought my guitar.
Hope this helps....(and sorry If I'm rambling!)
Mark