ya know, agreeing with everybody just isn't very original
.. but, I gotta agree with a lot of information already posted.
Given the choice between a Studio and regular Epi, I'd rather have a used Studio than a new Epi. (and a chorus of "well-duhhhhs" rise up).
However, as many others have said, the Epi Elitist is an Epi in a league of it's own, and is very worthy of consideration. ("Elitist - those who know, know")
I have both a Studio and an Elitist, and they're equal in value to me... they both provide different flavors of what they do, but they're both very good flavors.
Hbucker had a VERY good point about amps vs. guitars too. As you only have a finite amount of money to spend, you don't want to cheap out on the amp, so you have quite a few factors to consider. A regular Epi can always be upgraded down the road when you have a little extra cash... but a used Elitist is probably real close in price to a new Epi.