All true! I've owned a Vox Meteor since the early 70's. In fact it was my first guitar and I -still- have it! The key distinction though is that it's a 3/4 scale. It was great as a middle schooler but I hung on to it and both my daughters and many others have learned on it over the years. While the frets are worn and the style is more than a little dated, the neck is as straight and true as the day I bought it ( $40 ) and it's as reliable as ever.
In the late 90's I removed the original pickup and had it replaced w/ a pre-CBS Strat p/u and added a second, a Seymor Duncan in the lead position. Amazingly it's "still in service" even to this day. I've had to raise the action and it's tuned in an Open A for slide. Incredible tone and remarkable dependability. The original bridge was replaced w/ a Guild bridge years ago and the tuning machines were upgraded to Schaller's but it retains it's vintage feel and tone. Even today I get compliments from players far better than myself who really aren't sure 'quite' what to make of it?
What's surprising is that not but a few years ago, these fantastic little instruments were not considered "collectible" at all! Now folks are asking all kinds of fancy prices for them. What a difference a few years makes huh?