Question regarding buying an electric guitar, Epiphone Les Paul Standard or Mexican Fender Strat?

Definitely the Strat. The Les Paul generally has a much heavier sound than a Strat, so blues is out of the question. I'd say either one would do for rock and punk depending on whether you want a squeaky-clean sound (Strat) or dirtier more abrasive sound (Les Paul), but the Strat is definitely more versatile. But for blues Strat all the way. So go for the Strat.