Tony Pasko, the gear guru at Rock House www.rockhousemethod.com was recently asked about a standard Mexican strat. Basically what he thought of them and what kind of upgrades he would recomend for this guitar.
I like the mexican Strats. They very good for the price; as far as upgrades? There are a few things I would do, since you asked.
1) Upgrade the bridge saddles to Graphite, or change the bridge. Super Vee, or Manmade bridge etc...
2) I would switch out the pots and output jack. The pick-ups are pretty good but will sound way better with quality parts. CTS parts or Mojo.
3) Change the tuners. Grover 18:1 or a Sperzel locking tuner etc...
4) Change the nut to an earvana nut or a Bone nut.
5) If you decide that you want new pick-ups. Duncans, Dimarzio, or EMGs, you have tones of choices.
As you can see there are many things you can do to modify or upgrade your new strat, so depending on your budget and what upgrades you feel are necessary you have lots of options.
Tony J. Pasko
GEAR 411 is a feature of The Rock House Method web site. It's about helping you with gear and studio issues. If you are in the market for a new piece of gear, need help making a decsion on what to buy, aren't sure what you need, trying to hook something up, having problems making something work or just want to pick Tony's brain a little, this is the place.
To ask Tony a question or read the advice he has given others you can check it @ GEAR411