Yup, I think you'll find a lot of proponents of the Squier Strat around here :) I have one and I think they are a pretty good bang for the buck.

I also consider the Epiphone Special II an excellent guitar for that price bracket. This would be a humbucking alternative for you, and it cranks out da blues just fine.

This guy at the bottom, http://www.sweetwater.com/store/detail/StratPkFtBuMB/ , would sort of give you the best of both worlds.

As Christopher says though, it would be great if you can get your hands on a few to try out and see what feels best.