When it comes to cost-quality ratio then this is probably one of the best guitars I've ever purchased. I doubt that I will be ever able to find another high end guitar made in Japan that would be as satisfying to play and cost under 1000 euros.
To be honest I'm not a fan of modern guitars because I believe that guitars back then were simply better made, better looking and had more soul, but it's getting increasingly difficult to get one in a good condition. I was expecting this guitar to be inferior to my old japanese RG470 made in 2000 but instead I was pleasantly surprised when I finally tried it. The fact that they barely changed anything compared to the original model is a huge plus.
I haven't tried the original RG550 but I suppose the new one is close to its 1987 counterpart in terms of quality and feel (except the new neck is 2 millimeters wider, has satin finish and no bolts holding the locking nut). The action was a little high for my taste but it was no problem to set it lower (just make sure that you loosen the stud lock located inside the stud itself that can be accessed with a tiny 1,5mm allen key before rotating the stud itself, then lock it again after you're done setting the action).
The Edge tremolo is very durable and stable, stays in tune no matter how you abuse the whammy bar. You can raise the action without first loosening the strings first which shows how durable the edge tremolo really is. It's also very easy to make the whammy "flutter". The fret ends are reasonably well made, the ergonomics are top notch (except for maybe the block neck joint which makes it harder to access the upper frets and neck is a tiny bit wider compared to its predecessor but it's no problem to get used to it).
Overall, I'm totally satisfied with the purchase, not even some expensive guitars offer such high build quality, level of comfort, ergonomics, aesthetics and sound variety. I encourage you to at least try it out.