I just encountered the Vintage ZIP in my local music shop. What a fantastically ugly little instrument that is. Sparkly gold with lipstick pickups, for less than 200 quid too.
I figured it had to be a bust, It had to play or sound horrific, but the shock is it doesn't! Ok, it's never going to play like a JEM and sound like a Les Paul, but it was way more than bearable. I think I've just found the backup guitar for me.