It's hard to find a cheap guitar that isn't of crap quality. This is one reason why I'll stand by Peavey products. Even their low end stuff feels and plays better than stuff costing 4 times as much from another company. The nicest guitar I ever played was an EVH Wolfgang (not the Special) with a birds eye maple neck, it felt just wonderful.
I also use a Peavey amp, it's a Basic 112 which they don't make anymore.
As for strings, I've used GHS Boomers since I stared. But on the last change over my guitar center didn't have the right scale and gadge Boomers in stock, so the guy sold me these new B52 Boomers, and I just love them. They are a little brighter than what I'm used to, but I've never had a set of strings stay so well in tune for so long.