Haha, yes Kit. I grabbed it, and noticed the saddle height on the old Guild (but not original) bridge. Also possible that the poorly fitting saddle may have had something to do with the crack. I have the correct saddle and pins to install, also a good relationship with the seller for adjustments. I loaded him up with questions and got adequate replies, especially about the back cracks. Another big deal for me was not wanting a divotted fingerboard, came back VG condition. Headstock veneer? Hey, it's a very old M20, so I assume the original peeled off. Couldn't come up with the 13 or 14 hundred bucks for one in great condition, but I wish I had asked Mav to share the offers.
I have a few luthier tricks up my sleeve, but I'm betting on tone. I was pleasantly surprised to see string height around an eighth of an inch up high on the neck, and when I get that saddle issue out of the way, I'm guessing I'll get the action waaay low. Why the owner didn't at least get new pins I'll never know, but I know it brought a tear to his eye to sell. Some people still don't know how to properly seat their strings against the plate, and do damage.
I look at it as a rescue, maybe a bit costly, but a very early run of these guitars. Never have seen that label before.
Hey, what's life without a little vintage guitar buying angst?