What a valid dilemma!
Firstly, upon Mike's recommendations, I've tried out the Swing range. They are very value for money, considering the above average quality and the considerably low asking price.
I remember that day when I was hanging out at Standard Value. And I saw this Swing guitar with 1k plus price tag. I thought he had the wrong price tag, since I've always viewed Swing as a cheaper alternative.
So Mike took the guitar down for me to try and also related the specifications. American alder body, Canadian hard maple neck, Indian rosewood fingerboard, Sperzels, LR Baggs, SD pups, and according to Mike to pots and switch are the better kind, he mentioned the brand but I can't remember it for nuts. Seriously, every damned thing on the Prism is really really good-quality, high-end stuff.
And it plays very well too, but I assume it's because Mike has set-it up beforehand. Frets are nicely dressed, low-action with not the slightest buzz anywhere, paint job is faultless, no glue residue visible anywhere, pots are smooth, volume and tone tapers are very even, according to my average ears. Resonates very well, can really feel it against your body, acoustically sound, nice weight balance too, you can't find a fault with it. Except the one fatal thing that might pose a problem to some. The decal on the headstock says 'Swing'.
So seriously, if you don't mind that. Then I say it's a very very good buy. If it says freaking 'Fender' on the headstock, a guitar with these specifications will cost a hell lot more. Maybe even double to three times the 1k plus asking price of the Swing.
Then again, the Edwards LPs are nice stuff too. But if you want to compare then spec for spec, the Prism wins hands down. But Edwards is a more established brand, so to speak.
But, you're comparing an LP with a Strat, they're on different planes. At the end of the day, I guess you've to first decide what you really want more. But both candidates for a Strat and LP copy are very good ones, so either way you're not losing out.
Hope this helps!