Edwards are about on par with the Epiphone Elitist range, just a little better. The advantage they have over Gibson is quaity control. Gibsons can be a bit hit and miss, a good one is great but most of the standards you'll try just don't cut it for the price their asking.
I have never yet seen a poorly made Japanese Greco, Burny, Tokai, Orville, Edwards, and a whole host of other japanese market only guitars. A good used Burny or Greco can be had for around £300 - £350, put some BKPs in it and you'll have a guitar that feels, plays and sounds like it cost twice as much.
Here's a Burny I picked up for a friend a little while ago

Not a great pic but you get the idea
Cost £350 into the UK with all customs paid.