Cosmins post about beginners and the budget for their first instrument got me all wistful about my first guitar. It really was terrible. A second or third hand Woolworths Kay electric. Vaguely strat shaped with two soapbar type slab pups, selectable by a slider switch for each. I of course loved it. But after a few months of learning on it, the sore fingers, the cramps in my forearm and the negative comments about it from friends with "proper" guitars saw me replacing it with a Maya telecaster. This was much better. My fingers felt as if they had new batteries in them and chord changes were no longer a two man job.
The Maya later donated its neck to my frankenstein tele as well as its scratch plate and knobs. So I guess it is still giving service to this very day.
I would love to hear about your first guitars. Did you start on a butter smooth beauty or was it more like a plank strung with fence wire?