Me being more of a "shred rock" guitarist, I tend to side with Ibanez and similar instruments. I too tend to think many name brand guitars are over priced and over rated. My favorite guitar that I own is an Aria made in Korea. I like it better than my American strat, Hamer Diablo (from their custom shop no less), Ovation, etc. The thing plays like a dream.
A cool guitar I also own is an Ovation Ultra GP. It's a solidbody guitar made in roughly 1978, and only about 300 were made. It's a double cutaway made of mahogany with a flamed maple top, and came stock with Dimarzio Super Distortions. It sounds AWESOME when it works, but the wiring is getting old and needs to be redone. I'd take it over a Gibson any day