guitar.about.com's resident guitar expert Dan Cross has posted some useful tips on how to buy a guitar. Dan is a professional guitarist and guitar teacher from New York.
He has broken down the task into three easy steps, which should be followed in order:
- How to try out guitars in the music store (should you play stairway-to-heaven or not?)
- How to choose your guitar (should you go for the one with the fancy inlays?)
- How to get the best price for your chosen guitar (never pay list price for a guitar they are usually inflated!)
Other guitar buying guides:

Finding the perfect guitar
There are so many Guitars to choose from out there its crazy. Finding the perfect one seems like alot of work and research. Especially like you said trying to get one at a non-inflated price.