[Perndog]

Spend the $200 if you can find a nice used one, but otherwise wait - a new $200 guitar probably won't treat you very well, while $450 will almost definitely keep you out of the "I hate this piece of shit" range. I recommend finding someone who knows all about guitars to bring along and help you shop, especially if you check out used instruments.

Let me also recommend Washburn and Dean electric guitars. I've been playing a Washburn Culprit for three years now and my only complaint has been the muddy-sounding pickups (which I replaced). And Dean makes some of the best instruments I've played in the $250-600 range.