The craftsmanship on the Japanese ESPs is second to none. The finish, attention to detail, the quality of the woods are above and beyond.
How it compares to the LTD version (which I also own):
Headstock and Neck:
The tuners are Gotoh vs LTD branded. IMO the Gotohs don't out perform the LTD version. The neck shape is pretty much identical as far as I can tell. That is definitely not the case for instance for the KH2 and it's LTD version, which should also be the same according to their specs. The difference in feel comes from the fretboard radius which is slightly flatter on the LTD (12" vs 14"). The fretboard on the ESP is much nicer. Both are ebony, but the grain on the ESP is much tighter, it's darker in color and it's seems to be sanded a little smoother. The inlays are real mother of pearl vs pearloid. For some reason the vulture inlay is also slightly different. The serration pattern of the wings is ever so slightly different. It was only when looking at them side by side for writing this review that I noticed this. The difference in Snakes of the Snakebyte is much mote noticeable since the LTD snake has no eye while the ESP one does. That being said, the precision of the inlays (i.e. how much filler was used) is equally outstanding on both LTD and ESP. The fretwork leaves nothing to be desired on either model.
Body:
You can't see the body wood through the finish of course, but what is obvious in mine is that the LTD is lighter (3.2Kg) than the ESP (3.7KG). Interestingly, that is also the case with my ESP snakebyte vs the LTD version. So, that could be a general thing based on the woods that both factories source. Despite the difference in weight, the ESP version is definitely more resonant. Shape wise the two are again fairly identical but not quite. The overall thickness, size and shape is the same. The only real difference is bevel of the top wing: on the ESP it's a little wider. It starts at the point where the imput jack is located, while on the ltd it starts halfway down the input jackplate. A small difference but it's there.
Electronics:
Although both versions are equiped with the EMG Hetset , the switch and to a lesser degree the pots of the ESP feel much nicer.
As far as sound goes, it's hard to tell how much of the difference is in your ears and how much is between your ears.
The LTD version is by no means a cheap guitar but definitely more bang for your buck. All things considered I'd say there is no logical reason to pick this one over the LTD version. Logic and reason are only part of the equation, however. The heart wants what the heart wants, and I'm fortunate enough to afford it. Would I buy the ESP again? In a heartbeat.