This guitar is probably a wet dream of one mad guitar designer. For some 50 bucks you get a guitar with built-in speaker and a bigsby vibrato. Guitar and amp in one unit! Two for the price of one. There are kids who actually buy these things.
One day my friend, who is working at the local music store, led me to the guitars' section, laughing. "Look what we've got now!" - he said. That's how I've seen Terminator for the first time. It costed 200NIS - about $40 new. I thought - "wow! this is probably a real crap!" - and that was right.
The guitar looked ugly - black body, stratocaster - like shape, big vibrato unit, and that speaker... But the most surprising was the action - I've never seen strings set so high! It was about 1.2 cm by the end of the neck.
I played it for a joke. The sound (plugged) was a bit similar to soviet guitars - Ural and such. They've got single-coil pickups that feeds back even on a low distortion level. Built-in speaker sounds like a radio.
I could not play the guitar higher than 7th fret, and - of course - vibrato affects the tuning in a dramatic way.

The story continues! Recently we've got a couple of angry emails (actually, two) from happy Terminator owners. They were claiming that "This guitar is as good as Fender stratocaster, if not better. It plays like butter and sounds very good" (of course, I rushed back to that music store but I was told they've sold the guitar a couple of years ago to a local junkie).