Gee, you'd never know the dude liked guitars at all, would you? As for this one, the points you bring up are exactly the ones that have convinced me that the appraiser I used had no idea what he was talking about. Again, he was convinced that it was refinished because he claimed Guild never made them with a black finish. But, as you suggest, the binding, purfling, all of it is visible, no evidence of overrun. And all of those elements are cracking to one degree or another. Oh, and, of course, the acetate fret markers are shrinking. I'm actually a bit concerned about the binding on the bottom side of the neck, as it is cracked about every inch or so. It's eventually going to start falling off, most probably. The majority of the finish has some level of crackling, and it's been that way since I got it some 30 years ago. The finish has chipped/peeled in a few places on the neck, mostly near the joint, square on the back. Still, she's holding together, plays like a freakin' dream, sounds fabulous. My thought, after I got the appraisal (15 yr ago), was that if it was refinished, somebody did a really crappy job of it because it's crackling and peeling! I'd be happy to snap a couple more pics if you're interested.