by Freeman » Tue Dec 11, 2012 2:56 am
Altho I have played a few old Gibbies, I am not an expert on them, however I do fool around with old guitars (mostly repairing) and I build new ones based on old ones. I would give the following advice if you are thinking of buying a vintage guitar.
Do all the research you can. Learn to identify problems and what it costs to fix them. Decide if you want to own a guitar in "very good" or "excellent" condition (and what those terms mean) and what that costs - Elderly has some great info on their site. You may, however, be content with a "player" - again, learn to judge what makes it playable or not. Lastly, be very aware that the prices of vintage guitars has gone thru the roof and people are taking advantage of that.
In my opinion, having had a reset or refret only makes a vintage guitar more valuable, a refin does not. Replacing hardware (tuners, tailpiece, bridge) might make it less desirable to a collector, but a better player. I would never turn down a guitar that needs a reset if it was structurally sound - just know what it costs to have it done.
Some vintage guitars do have truss rods, they just aren't adjustable. Some don't have them at all. Learn how to measure relief and what values you feel are acceptable (I think that anything over 0.010 inch is too much unless it is only for slide). Guitars with no t/r or non-adjustable ones can be compression fretted or the frets can be pulled and the board can be planed - again, this would not be a deal breaker for me but I know how to do it (and I know the cost if I have to have it done). Also know how to evaluate cracks, loose or broken braces, bellied tops, and all the other problems that go along with an old guitar. Don't ever ever ever buy a vintage guitar without inspecting it unless it is from a very trusted source. In my opinion, evil bay is not a trusted source.
With respect to the neck profile, again, only you can decide based on your playing style and experience. I built a Stella clone following some profile cross sections from 1930 guitars and hated it - ended up doing some major surgery to reshape it to a more modern profile. Don't forget too that many old guitars intonate terribly - not a problem for slide but could be if you do mostly fretted playing.
That said, if you want to own a vintage guitar because RJ or someone else did (and you've got the money) - go for it. If it is really valuable you won't want to take it out to play, but owning a piece of history can be kind of cool. However if you want the sound and look of an old guitar in a modern package, check out the work of Todd Cambio or John Howe (or me) or several other people who are building ladder braced small bodied guitars in the style of the old Gibbies and Stellas, but with adjustable truss rods, good intonation, playable action, and reasonable prices. My winter project is an L-00 clone, all mahogany, built to fit may hands and my style of play. I'll post pictures in a few months when it is done.