I received it on Tuesday, and after playing with it for a few days I've got a bit of a review - which is kind of tough to find on these. Pics and a couple demos are below.
Neck:
The neck feels very much like a normal Jaguar neck. Nice C shape profile, and reminds me a lot of my Classic Player Jag - but with better fretwork and nicer rosewood on the VM Jag.
The neck finish is a bit thick, but looks good. It has a nice amber tint to it, and the maple has a good bit of flaming going on.
Overall, the neck is great. They're cheap on Ebay, so I'd totally recommend them for any 24" scale projects.
The tuners are vintage style, which look great. While they look the part, they're pretty stiff feeling. With a trem I'd worry, but with the set bridge they hold tune fine.
Body:
The body looks great. Very clean, and identical in shape to my Classic Player Jag. My CIJ Jaguar is a bit different from them in the contours and upper horn shape, but the difference is very minimal.
The color is a more traditional Fiesta Red, much like a faded Dakota Red with a bit of yellowing in the finish. It looks great, but it's definitely a color to see in person - a lot of online pics don't show the real depth of the color. I tried to get mine as close to the color as possible, but with different monitors and such they still might not be dead on.
Finish-wise, the body is good - though there are a couple of black flecks in the paint. Not really noticeable, but still worth noting. Other than that, perfect finish with no major issues. The poly on it is thick, but not even as thick as my CIJ or CP Jaguars.
Hardware:
The pickguard is hideous, but in a classy, cheesy ‘60s, vintage sort of way. It works on the guitar, and I’ll be keeping it indefinitely. From the look of it, tradition Jag plates and maybe an AVRI guard would fit if modding is your thing.
Now, the bridge on these took a TON of flak when they came out. I’m really not sure why. It intonates easily, gives good sustain, and is fully adjustable. It’s also surprisingly good quality - much better quality than I expected. It’s in no way traditional, but it does the job.
Plus, being a top loader means that you could easily add a bigsby B5 without any modifications. The back of the bridge can go up and down, so you could adjust it so that the strings from the Bigsby would go right through the back of the bridge with no friction.
Electronics:
The pickups shocked me. I had a Jagmaster a few years back, and its Duncan Designed pickups shared the same name as the ones in the VM Jaguar - HB-102B/N. They’re totally different pickups. Whether redesigned, different materials, or just better quality, the difference between them is huge. They’re hot, but not beyond hot like most cheap humbuckers. There’s good response to picking and volume controls, and they actually sound decent to me. I plan on keeping them in. They handle fuzz and overdrive well, so they work for my needs.
The potentiometers are kind of odd. They’re concentric, and loose. Because of that I might change them, but they aren’t so loose that it’s a necessity. I might also keep them and turn the top sections into a master volume and master tone, then turn the bottom ones into individual coil taps. The bottom sections are indented by a special washer underneath, so it would make set positions of splitting really easy.
The pickup selector switch seems solid. Not super great, but not bad enough to replace any time soon, if ever.
The Strat jack is your standard style. I thought it would bug me, but it works, and I literally don’t notice it in the least when playing. If this is stopping you from getting one of these, go for it. It’s really not a big deal - and that’s coming from someone who has played traditional Jaguars for years.
That covers just about anything. Overall, I’m extremely happy with it, and really surprised by the quality. Should I need another guitar, I’ll probably go for a Squier over a Fender - this one is that good.
Here are a couple demos - the first being entirely clean, and cycling through the pickups: Bridge, Both, Neck.
Clip two is with effects. Rhythm is on the bridge pickup using the Iconoclast overdrive (one of a kind overdrive available in the Noisemaker Effects Custom Shop) into a Deluxe Memory Boy.
Lead is a Noisemaker Effects 3.14 into the Deluxe Memory Boy, and it’s on the neck pickup.
Pics at the bottom, showing all different angles, as well as the paint flecks in the finish.
Clean:
[soundcloud]http://soundcloud.com/noisemaker-effects/jaguar-hh-demo-clean[/soundcloud]
Effects:
[soundcloud]http://soundcloud.com/noisemaker-effects/jaguar-hh-demo-effects[/soundcloud]
good point with the pots. and i'm not a fan of strat jacks cause they always go loose on me. 
