This definitely falls into the 'project' category. I bought this for a pittance from an enthusiastic Metallica fan who had painted some Pushead-esque stuff on it then lacquered over the top. There's even a Metallica logo on the headstock.
Which wouldn't be so bad if he hadn't made a godawful job of it. The painting is an ill-defined mess and the logo looks like it's been cut out of a magazine then stuck on. The lacquer is all thick, blobby and seems to have reacted with the original finish so it's bubbling up. It's even all over the scratchplate.
It came as a pile of bits so I stuck in some Kent Armstrong Super Distortion pickups I had kicking around and set it up. It plays quite nicely even if it does look like shite. I really ought to do something with it, but there's always another project to fiddle with.