I have not played the guitar, so I can't help you there.
But the electronics are easy to replace if they are too cheap and nasty, and replacements don't cost much. The pickups themselves are a bit expensive, though, but if you shop around you can get some good deals on them, especially used.
my idea is to
a) put some alnico
b) drill a new hole
c) put the SL electronics style
Im scared about the paint finish, body finish, woods, fretboard, playability... it's what i found more important on a guitar.