I agree with both Gidge and Dan DA.
The Yamaha Pacifica is
the best guitar under $200 US..... and nothing else even comes close to it's build-quality and tone for the price.
If you can afford a bit more to spend, the Samick/Greg Bennett line of guitars are far superior to the Mexican Strats in the $300 to $400 range. Not just because they have superior hardware (Grover tuners, Wilkinson tremolos, Duncan-designed pickups), but because they have far better quality control than the Mexican Strats.
I happen to own both of the guitars I am suggesting.
You're getting first-hand knowledge from a VERY satisfied owner who has done his homework and played just about every guitar under $500 that's out there right now.
I have a Pacifica PAC 012 (Strat copy) and a Samick Ultramatic UM-4 (PRS copy).
Samick's Avion AV-6 is an awesome guitar for the money.... I highly recommend that one, too.
Gidge also mentioned Schecter guitars being really nice guitars for the money.
Well, they should be... they're made by Samick!!