A lot depends on the type of music you are playing (or the snobs are playing). If its heavy metal, for example, no Fender amp is going to suffice. A good guitarist can make a cheap guitar and amp sound good, but on the other hand a no-talent guitarist can't make a $3000 Les Paul with a $3500 Marshall stack sound good!
My reverbnation site: http://www.reverbnation.com/mikebirchmusic
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Youtube: http://www.youtube.com/mikebirchmusic
Facebook: http://www.facebook.com/mikebirchmusic