I had one of the newer Jagmasters for a while. The hardware and tuners were awful on that guitar, the volume knobs and strap buttons worked themselves loose, after about a month of owning it. The input jack broke all the time, and the finish on that guitar was a joke, horrible. The neck was poorly sanded, but it did have a nice shape, radius (7.5 I believe, more like a Jag or Mustang), and nice coat of thin lacquer; it fit the size of my hands well. And for that reason alone I upgraded the pickups to seymour duncan: Jazz at neck and JB at bridge. But the fret wires were very cheap and poorly glued, not filed well on the edges at all.
After that I used to get so many compliments on my tone. People would come up and ask what kind of "Jaguar" it was that I was playing and they would always look shocked when they saw the Squier headstock.
So if you get a new one definitely upgrade the pickups, and be prepared to deal with hardware issues.
Don't have many pics, here's the only one I could find:
