Feature:
The wood is supposed to be mahogany, but is really light. The finish is flawless. I plan on switching out the humbucker to a Gibson '57 Classic. The picture makes it look silver-blue, but in reality it's more of a pewter gray. Inlay isn't perfect, but it's smooth, and you can't notice from more than a foot away.

Quality:
Great quality, especially considering I only paid 220 from MF. The set neck is straight, frets are all well ground, and the action was good (aside from low saddle mentioned above).

Value:
Well made, quality finish, excellent playability. If you like the look, the guitar is worth it.

Desirability:
Definitely an odd one for Fender, but I had to grab it for $220, and I'm not regretting it at all.

Sound:
This guitar doesn't sound at all like a Tele. The atomic humbucker isn't too bad, It's not overdriven enough for a heavy sound, but it will get a good blues sound, and when you back off a bit, it sounds pretty good, if a little bright. Intonation was perfect, one saddle was a little low, resulting in some buzz, but that took about a minute to fix. Definitely replacing the pickup. I play it through a Fender Hot Rod DeVille 4x10, sometimes using a ProCo Rat or a Boss Metal Zone. Everything sounds great, but will get better with a new pickup.

Support:
Never used it

Overall:
Definitely worth it, an incredible "first guitar" if you're looking. It looks nice in between my Les Paul and my American Strat. I think with the 57' in it, it could end up sounding fairly close to the LP, but much lighter. A fun guitar.