Bang for buck I'd say are the Roadworns (as long as you're ok with the finish!). However, I suspect they're out of your budget, as would be most US (MIA) stuff.
Of the ones I've played, the other Mexican models seem pretty good value. But I'd definitely want to try every one available to me before choosing one.
MIJ/CIJ are superbly made - and 2nd hand might well be in budget?
One word of warning though - MIJ/CIJ Fender seem to have a slightly different feel/vibe/tone than MIM, and then another slight difference for MIA. All of them are good, but people seem to have a preference for one vibe or another. Some strat anoraks don't like any MIMs (including the Roadworns) because, apparently, their bodies aren't quite the authentic shape on the rounding of the edges and the tummy tuck. However, and I'm almost an anorak, although there is a difference to my CIJ strat, it really doesn't bother me :lol:
If you're not worried about "Fender" on the headstock, and the thinner neck grabs you, the Squier Classic Vibe series are superb value for money. The ones I tried felt and played very much like my early 80s JV Squier did when it was new. I'd rate the CV's "guitar per £" up there with the Roadworns, the only reason I didn't get one is that I like my strats to feel a little more substantial nowadays.
I think the Squier CVs are probably the cheapest option out of all these. With any strat, cheapie all the way up to Custom Shop, try before you buy if you can - they are incredibly personal instruments. One man's dog is another man's "omigod!" guitar...
If you want to move outside of Fender/Fender-licensed, I don't know much about it all - but there's other folks on here who know plenty. My gut feeling is that the better non-Fenders will be outside budget (unless you're happy with 2nd hand). If you want a decent strat at low end, I reckon you need to try as many budget Fenders as you can - your guitar is hiding there somewhere!
