I've been using the same strat since I started playing 9 years ago. What someone else said in another thread is right: it is a guitar that grows with you. Started off on stock single coils, went on to overwound single coils and now it's running dual hums.
It does have a sound of it's own and it boils down to the kind of tone and feel players like. I've played LP's before. They're great for that big, chunky, ballsy, in-your-face sound, but that's about all it's good for IMHO. Personally go for the strats for the versatility, replacable parts (never had a neck snapping accident thank goodness) and not getting a hernia from long periods of playing. It's a good bread and butter workhorse guitar.