Thanks, that actually reassures me - ie no one is going to bother replacing a plywood body with another equally cheap one.
In regards to the body being Plywood this really doesn't bother me - a friend has a recent plywood Squire Tele as a spare and he and I prefer it's sound to his american standard Tele. A lot of very valuable vintage guitars are also constructed from plywood or cheap woods. A decent set up and shielding with a copper based paint will also sort out a lot of problems on a 'cheap' guitar. High end pickups would always be my first consideration - there's an awful lot of guff written on the web about a guitars construction effecting it's quality as if theirs a definite ideal set up/sound. I recently read that one guy dismissed a Strat because it was lighter than the others in the shop. It probably weighed the same as a mid fifties pre CBS Strat.
The guitar at 150 is actually still a decent buy - UK prices are a lot higher than in the US or elsewhere - the guitar is described by the seller as being very well constructed with great tone and on par with a new Mexican Strat. He is a reputable seller with excellent feedback and thus I've no reason to doubt him.