Hi everyone, it's my first post and I thought I would use it to weigh in on this topic.
Personally, I think the Jagstang is a pretty solid guitar even in it's stock configuration. I bought mine back in '96 and played it nonstop for about 10 years before even looking at other guitars seriously. After getting a strat, and then a couple of Jazzmasters, and a Squier Jag, I didn't touch it for years until last night. The neck on these things is one of the most comfortable I've ever played, it was like seeing an old friend again after a long time. The pickups are a bit on the weak side, but with a bit of gain and volume you don't really notice too much. It's definitely a unique beast worth owning.
Edit: forgot to rate it! I would give it a 7/10 based solely on a stock model. Its not the best, but it's quite good.