It's better than the Fender unit in that it doesn't have the worthless lock, so all you have to live with is the piss-poor hinge design, single spring, and flimsy wang bar all delivering inconsistent vibrato action. If you mate it up with some locking tuners, a Graphtech nut, and either a
Wilkinson roller,
roller TOM or
Mastery bridge, then promise not to use it much, I imagine you could learn to live with it. You'd at least get the vintage appearance out of the deal.
Ideally, though, you'd get a Jazzmaster/Jaguar body routed for a
Wilkinson VS100.