I have looked at the Vintage modified, and as you know I own both ot the Deluxes, the Pearl White and the Daphne Blue.
The electronics and basically everything else is the same. Both of these are being made at the Cort Factory in Indonesia. They are a very highly respected company that has been making top flight guitars for over 25 years. What attracted me to the VMs was the Cherry Sunburst. When I saw them in real life the colors just seemed too bright and edgy. The blend on the paint did not blend well. I have several burst strats so I was looking for a solid color. The white was nice but I didn't like the Tort Guard. The necks on the other hand on the VMs was very nicely done. Small headstock, and the fretboard and back of the neck had a very nice quality close to American and not less than MIM Strats.
I have not looked under the hood yet but I have been told by others who have that they are top quality pots, switches, and the SC101 Duncan Design pickups are close to noiseless and very expressive. No need of an upgrade there.
Vintage style 2 point trem and cast saddles. BTW they are the same style as the ones on my 50th Ann Deluxe Strat, in fact I measured the 50th against my Squier Deluxes with a dial indicator and all of the measurements including the neck and body are identical. The neck on the Deluxes has a nice rolled edge and a satin finish similar to the 50th.
I would say over all you have a couple of choices to make, Color, neck type.
other than that they are as T ross said probably the best bang for the buck out there in a Strat.
Spudman, Duff, and myself are very happy with ours and I personally can't believe they are selling for under 250 in the US.
Mine took an extra couple of months to finally arrive after the original scheduled release date but it was worth every minute.