Last month I was fortunate enough to obtain a NOS Angelus Private Stock at a price I couldn't turn down (great value :-) ). I love the guitar. So much so, that in a recent trade with our Candadian Pusher Brent, I had him include a Custom SE as a back up.
Thought you'd like to know....the main differences are as follows:
Private Stock....heavier....has a greater "heft" and feels "less inexpensive" when holding it...but that is purely subjective. It also has the Santana headstock which I love, and much more exotic tone woods. It is primarily cocobolo and has a very dark tone to it. Relatively higher action, so not as easy to play as my electrics.
SE Custom.....significantly lighter, but does not "feel cheap" at all. Best surprise was the ebony fretboard and bridge. Obviously cheaper construction than the private stock...but you can buy almost 10 of the SE's for the cost of the PS, so big deal.
Most obvious comparison...The SE has a much "brighter" tone. Much more treble. Maybe the ebony? Even better...very low action...I can play this like I play my electrics without any hand fatigue. Very light to the touch, and my lead riffs are comparable to playing my electrics.
The SE has 20 frets...the PS has 21. The SE has a Truss Rod...the PS has a carbon fiber non-adjustable one. But, overall, it was a delightful experience and I would recommend this guitar to anyone. I guess we lose some perspective when we call a $750 guitar "cheap"....but this plays like a much more expensive guitar and I am very happy with it. It will allow me to put less wear and tear on the PS...although the SE's magonany and ebony are so nice I know I will feel lousy once that first dent has made its mark.