Man, I divebomb the living shit out of mine. The biggest problem is that the arm is so long, and so as a result, when you shove the handle all the way into the pickguard, you really don't do a whole lot. Maybe a full step on the high E, and 7 steps on the low E. On a Strat, you'd have all 6 strings sucked into the pickups before you even got within 3 inches of the guard.
Another thing that kindof irks me is that when I bring it above and below the center to do a good, even tremolo, the damn thing likes to go "CLICKCLICKCLICKCLICK" and the shock of that whole thing travels all the way through the strings, just like when you play behind the bridge. It's great for when I want to make noises (which is often enough to where I haven't bothered fixing it), but if I want a noiseless tremolo it kindof pisses me off.
However, a lot of people think that the lacquer will oh, so slightly dampen sustain.
Eh, if it does, to me that probably just means that it will tone down the brightness just a hair. Which is nice, because Teles and pretty much all other Fenders are already bright as fuck.
When I refinish my Jag in nitro lacquer, I'll be able to give you guys a comparison between that and the original poly finish.
(also, what the fuck, I was noticing some buckle rash on her the other day, and that shit is at least 1mm thick. That is NEVER going to wear through naturally. I am now absolutely hell-bent on refinishing her in nitro)