Jerry Donahue uses one, it sounds pretty good if you do it right.
It won`t fit in the pickguard, you`ll need to have it routed for a strat pickup (they`re wider), and possibly rout the cavity (i`ve never put one in I`m not sure if it will fit in the front routed slot in the body).
The new teles have a big ``bathtub`` cavity so you can put in whatever you want, but you still need to mod the pickguard.
You can get a custom wound tele neck that sounds more like a strat (I have an underwound lollar neck that is quite bright and sparkly), even removing the cover from the neck pickup is a good starting point (costs nothing and no mods, but you need a big soldering iron to get it off, like an 80 watter).