I know I'm probably repeating a few things.....
1981 Fender Bullet I - They were designed to replace the Mustang and Lead Series as a student guitar (though the Lead barely qualifies). You can tell this one is an earlier one by the metal pickguard that also doubles as a base for the bridge. I think they are neat and always wanted to make a full-size modern version based on the Fender Telecaster. The only thing I see different from the norm is the knobs, which look like MXR Rackmount processor knobs.
I think the earliest ones were USA made, but later, Fender moved production to somewhere in Asia (Korea, I think), probably after they cut from CBS, so not all are American. Some people give em' a bad rap but I have never played a Bullet I did not like.
$600? Man, I remember going into the Guitar Shoppe when I was a teenager and finding these for $200-300 used every so often. Wow, times have changed.