I think a balanced approach is good. Learn some stuff you want to play and make some music, but you also need the technique if you ever want to get past the basic cowboy chord campfire songs.
Acoustic guitar teaches critical right hand picking dynamics that translate well into playing electric in a band situation.
I learned alot from this guy
Justin Guitar | Free Guitar Lessons
Re the comment that no Strat is worth more than $500, you would have a hard time building one yourself for $500 using quality American made parts. That $300 strat in 1965 would be about $2300 in today's money.