Chances of you getting a bad guitar if you stick with the good brand names are very low, I honestly can't see you coming accross any bad necks, dodgy frets or anything of the like. Some guitars aren't greatly setup from new but are still far from being that bad. Even some of the most expensive guitars on the market can come with bad setups (Ibanez high end stuff for example, in my experience) that require a little tweaking, but it's no big deal.
My main live guitar is a 1994 Ibanez Jem7V and it is fantastic, but honestly I still rate my old Squier, i've not yet played a bad one, I've played a few fantastic ones, a few average ones and a few beat up, but the consistancy that i've seen with them in all the individual ones i've played has given me great respect for the company, considering how cheap they are. I would sooner play a squier than a sub £400 guitar from most companies. I ended up replacing the pickups on my Squier for Seymour Duncans (which went a long way in keeping me interested and improving the sound), but ultimately after years and years it still plays great and still stays in tune, the intonation is still spot on. I don't play it half as much as my Ibanez or my Fender Strats anymore but I feel fortunate that I was able to learn to play on such a quality guitar, I remember I was very close to buying the cheaper Encore set, thankfully I went with the Squier.
Take from that what you will. Camaro, you seem to have decided on the Starcaster, but if you want my advice, get a Squier Strat or the Epiphone Les Paul you wanted, you will not be sorry if you take my advice. They all cost the same price after all.