Older MIJ S540 models are praised for their thinner Wizard necks, which some users prefer over newer Prestige necks unless it's a J Custom.

An older S540 is compared favorably to more expensive vintage guitars, particularly in terms of sound quality and playability.

A user with a 1990 S540 feels it surpasses modern models and even competes with expensive vintage guitars in terms of sound and playability.

The IBZ/USA F1 pickup is sonically similar to the Dimarzio ToneZone.

One owner, with experience in multiple guitar brands, finds the S540 superior in smoothness and sound, specifically noting its oiled finish as a unique feature.

Some players believe that older models have superior wood quality compared to modern equivalents, citing better lumber selection in '80s and early '90s models.

The Lo-Pro Edge Tremolo retains its stability over decades, despite known issues with finish corrosion on saddles.

The original Wizard neck on the S540 is frequently highlighted as one of the best for a "modern" player, offering unmatched playability for some.

Owners of pre-1998 Japanese S540 models often express a preference for their precision and thinner necks over newer models.

The S540 body is extremely comfortable and lightweight, yet well-balanced without neck dive.

Owners appreciate the nostalgic value of older models, often associated with personal history, highlighting emotional attachment and long-term satisfaction.

Access to the upper register is open and comfortable, despite the guitar having only 22 frets.

Some users report both models with and without fretboard binding offer excellent feel and comfort, suggesting consistent playability across different variations.

Issues like a worn jack hole paint and costly replacement grommets for knobs are minor but notable.

Owners consider swapping Ibanez-branded DiMarzio pickups to achieve 'holy balls' tone in neck/middle positions.