my ibanez has a floater in it, and i wanted to start playing in drop tuning (impossible with a floyd rose) but i found this, only cost me $100 and its the best thing ive bought in a long time, its called a tremol-no, basically it replaces some parts in the rear and lets you change between floating bridge, hard tail or dive only, works a treat.
http://www.tremol-no.com if anyones interested.
with guitars you definitely get what you pay for, of course you can just put better pups in it, probably even change the neck, but its still going to have the cheap body. i'd save up and buy a squire type guitar, or find a cheap used strat or ibanez copy.