To the tons of people thinking this is true: Its not.
Yes, its plain BS. You can't make a decent guitar from scratch. Think about it. If it was possible, why in the world would there even be a market for Gibsons, Fenders, PRS, and Ibanezes? There wouldn't.
Now that I've said that, I'll also add that making a cheap musical instrument is definitely possible. Jack White of the White Stripes did it in a few minutes in "It Might Get Loud". Its not a terribly hard procedure. Its fun to play too. But really, it won't match up anywhere near the abilities of a real guitar.
I'd say its much better to mod a cheapo so that all fret issues go away and maybe change one pickup to a decent one. You'd spend a bit of money but the result will be much better than what the TS describes.
Check out my tabs:
Hey guys, would you care to check out my Youtube videos? I play some of the stuff people (and i) tab in here so it could help you with your guitar playing. Otherwise, you can just check it out for the heck of it. :) Thanks
I shall head the guitar pro awareness program... lol