I've not owned a Squier, but I understand the Classic Vibe's are prettty high in quality and approach (or may exceed) a MIM Fender.
To compare these, I also own a Gibson Les Paul, Gibson SG, and Gibson ES-137. I've previously owned (and sold a standard Epi Wilshire). I own a Casino, Wilshire Phantomatic, 339 ultra, and Les Paul.