I also have a 96 Squier P,but mine's Chinese. It has been dropped,knocked over,stepped on,spilled on,thrown around in a gig bag,used as a wedge to keep other gear from moving during travel,even doubled as a prop rod for the truck hood...like a Timex,still tickin'. It originally belonged to a buddy,and I used to borrow it to gig with when I first started playing. As he put it.."play it like you stole it,you can't possibly treat it worse than me!!" MOST of the abuse mentioned above was from him(I have dropped it,and been spilled on while playing it) and through it all,it only ever suffered a few(dozen) paint chips! Hell,I watched him put the headstock thru a ceiling during a "rock-god" move,and it only knocked the G out of tune..the tuner's still straight!
A couple years back,I traded him for a Ibby I had refinished,and the only things I've done since added a bridge cover,stripped the 9365 stickers off it,and shot the pots with cleaner.Still rockin it,loud-n-proud,after 14yrs of uhh..love

I'm pretty sure one of us will be buried with that thing!!