Is this a good Mexican strat?

Yes, it is a good MIM. If you shop around, you can find them for about fifty bucks less. Also, you can find used MIMs all day on craigslist for $300-$350. Dan is right about the Highway One being a better value for your dollar, but I've never seen one at $650. They are all about $750 in my expereince. Forget the HSS silliness. Get a true Strat.