if you want the strip your guitar, the fastest way to do it is to use a heatgun, sanding (even with a sanding machine) will take a long time. Hand sanding will take forever and a lot of effort even though it'll give you the best results.
When you re-paint it u should use car paint. Best is if you know car mechanics, get them to oven your guitar after the paint and lacquer, thats how guitar shops do it anyway....
I stripped mine, drilled the body and sawed a monkey grip, burnt the guitar and hand carved the IBANEZ on the head stock. It's a lot of fun and u'll love your guitar even more than the stock after you do it....