I've played something that looked similar and loved it. The action was spot on. It felt like the strings were made out of air.
Cool. I'm thinking about buying one of those cheap Ibanez guitars with the supposed fast necks. Just for something different ya know. My Tele will always be my baby!! I'd love a Contemporary Tele, but they are impossible to get hold of.
http://www.mark-cole.co.uk/teisco/ It's a Teisco K3L or related model,James Iha(Smashing Pumpkins)can be seen playing one just like it in the "Rocket" video.