[FrankenTex]

I am a total newbie that has read MANY posts on this very subject.
The MIJs are notorious for two things:
(1) Crappy electronics
(2) Superior fit and finish

This puts you, as a buyer, in a really good position! You see, MANY really knowledgable wizards around here just LOVE the MIJs because they are an excellent platform for modifications and upgrades. Figure about $250 (max) for (1) a 3-saddle vintage bridge (with compensated brass saddles) (2) Pickups of your choice (3) a good switch and (4) better pots.

SO ... act really doubtful and cautious about the purchase. Offer the guy $200 (Maybe $250) unless he is asking less. Tell him "everybody says the 'tronics stink and I'll have to sink hundreds more in parts and setup (which is probably true) ... Be sure to have a local luthier (mechanic) set up your rig (action) properly (another $50)

the beauty is, you will have a creamy "trick job" and will love your very own custom creation. Go for it!
=f=
(ANYONE HERE ... feel free to correct my comments or any mis-statements).