Billy Gibbons is a SERIOUS collector AND has more money than GOD! So plays what he wants :)
Many of his guitars were/are given to him though.
Gibson/Fender and their Custom Shops, PRS, etc. and alot of Bolin. Not seen/heard him play a Tokai but very poss. He used a Houston Texas made Tele recently from Big Tex Guitars (simply as he walked into a local Houston store and saw it there).
As for Les Pauls. I look at it in a cpl. different ways.
Firstly, Mercedes makes a darn fine automobile but still have the likes of Brabus and AMG tweak/rebuild them.
That said a guitar like a PRS could be viewed as such.
Also, the LP is Iconic. Now, if players were not stuck on that maybe some 'forward thinking' would be more apparent with 'newer' designs/tweaks of the same type? A GOOD Les Paul is somthing to behold but I had to look loooooooooong and haaaaaaaaaaard for mine. Pretty much everything can be improved upon and recently I have much respect/love for my PRS Singlecuts. The style is the same but the lil things (like AMG do to the merc) are immense, like neck joint, overall QC, materials etc. Not saying one is better than another BUT I have found without question that EVERY PRS I have played/picked up is very consistant which is more than I can say for Gibson.
As for custom, it's THE way to go. Ya get a guitar made with the materials/finish YOU want and tailored for YOU! Only downside as it were is that it May cost more for this luxury and also (I always keep this in my mind as was brought up this way, with cars) the resale can be terrible as it WAS made for a single person who's idea's are obviously their own and may not conform to others.
Japan, as they did with the automotive industry, has taken a design and copied/improved it in such a way to make tremendous instruments that are as good as (if not better) than the original save 'that name' and offer great vfm.
Again, ya pay ya money and take ya choice :D