Dilemma

imo, if you are serious about keeping it as your main axe then i would say wait and get the Fender Jag.

having said that i'm pretty sure that the Squires are nice also. the difference should be in the materials, hardware and the quality control. i would suggest as always that you go jam on them somewhere where you can try both, if not several of each and decide if the nuances of your tone are affected by the differances or not.

It's worth waiting, especially since the cost difference is much less significant than some others (epi -> gibson is generally something like a $1500 difference).

For your money, you get better pickups, better wood, better QC/finishing, and NO REGRETS! It's hard to stress how important that last one is, if you think that in any way you're going to regret something about your squire, you should definitely wait.

Your instrument should drive you to play, if it doesn't, then why even have it?

Apply what I like to call "the pants equation" -

If you buy a $15 pair of jeans and wear them only 3 times because they're uncomfortable or ugly, you've paid $5 per wear.

If you buy a $50 pair of jeans and wear them 300 times because they're you're happy with them, you've paid 17 cents per wear.

Additionally, the fender will have a better resale value.

Moral of of the story? If you can afford better, then buying cheaper is false economy. Go for the best you can and play it to death.

The differences in quality appear to be narrowing, though I think they are still there as far as I can tell from the strats .

I see there are some differences in construction between the Jaguar and the Jagmaster. The Jaguar has the original style pickups, while the Jagmaster has the rather common humbuckers. Make sure you like the old style pickups or find the humbucker version of the Fender to try as well. The neck on the Squier also appears slightly wider and flatter, which tends to be favoured by modern players.

I think Twisted is right, you're just going to have to try them to see if the differences are important enough to you.

Believe me I'm having the same trouble with the strats, complicated by the fact that the Squier neck is slimmer than the American standard, but that some of the older curved fretboard gloss finished Fender necks are more comfortable still. :?
Which may be a reason to hold ff for a while anyways, after you've been playing awhile you may find you want a particular neck or a different sound. I know I tried the Highway 1 strats a year ago and would have bought one if I had the money. I'm glad I didn't, because the neck isn't one that's truly comfortable for me.

Thanks for your help. I'll have to try them out first, especially since Jaguars aren't cheap. And the pants analogy made a lot of sense.

I actually saw the Jaguars with dual humbuckers first. They have '2 special-design Dragster humbuckers.' Are those good? I'm not sure what that means.

"special-design" - the accountant had the last word.
"Dragster" - hip, macho name, thought up by the marketing dept, which hopefully has nothing to do with the sound they make.

Have to put a vote for Squier - at least to say try both. Squier are getting better everyday, and there are individual instruments that are better than others in all the different Fender ranges. So a good Squier can sound and feel better than a less good 'real' Fender.

I'm no Jaguar / Jagmaster expert, but I've played Strats & Teles for over 30 years, and my current Squier Std Tele is not a worse guitar than my genuine '78 Fender Strat. OK it's less well-finished than a current USA DeLuxe Tele, but I'm not sure the GBP900 USA model sounds or plays any better FOR ME than my GBP200 Squier.

Of course there's that name on the headstock, but I'm actually getting to like saying "I bought this for the sound, not the flash - just listen!"

Finally, it comes down to the guitar that fits your hands like it grew there, and sounds like the music in your head. And to heck with the price, either way ;-)

I own a Squier 51' and a Squier Standard Double fat Strat. I love them both. Before I bought my 51' I tried out the Cyclone and the jagmaster from Squier. Both are EXCELLENT guitars. Squier's standard series matched with Fenders Standard series is very close in comparison. The Jagmaster has a fast playing neck, its also noticibly thinner. So I say go for the Jagmaster. But I also say go out and PLAY these instruments if you can. To me Jaguars are really akward feeling instruments. But thats my personal opinion.

Have fun shopping!

You all make good points. I hope I can try them both out, but that's going to be tricky, the store here doesn't carry Squier or Fender.

I'm leaning towards a Fender, but that could change if I get to try them. Price isn't a big issue, if I have to wait longer and pay more for a better guitar, then I will, as long as that's what I'm getting. I was just worried that Squier and Fender were like Epiphone and Gibson. Most people like Epiphone but say the Gibsons aren't worth it, so I was worried that I'd end up just paying for the name.

I'll post late because I am convinced.

American Fender is simply better than Squire.
yes, you may find a good Squire, Agile or cclone, but the final workmanship that goes into an American Fender is top notch.
the guitar will be perfect in every way.
you will want to play it again and again becasue you will find everything easier; the neck and fret work are smooth, the electronics are excellent, the wiring and switches wont short, pop or come loose, the paint and finish is flawless, the neck wood is beautiful...i can go on and on, but dont want to sound like a Fender rep.
Ive played guitars for a long time. most of that time was with inexpensive knock offs.
now that I can afford the real thing i cant go back.

there is a reason real fenders cost more; you'll feel it. and a million collectors cant be wrong.