I had one of these, Dave, and I liked it very much. They tend to sell for a lot less than I think they should be worth, too, but that is just one guy's opinion.
The model has a narrow, 24-fret, shorter scale 24 3/4" fingerboard and neck, designed to feel and play more like an electric guitar. But the body is full depth and maintains the full acoustic unplugged volume and tone.
The one I had was from 1984 with mahogany back and sides. It had been played a ton but remained structurally excellent and had a remarkably tight-grained and responsive top, as well as excellent action and playability.
This one listed on e-Bay looks like the one I had but has less playing wear:
http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... 0345218402
I don't think, however, that Gruhn and Walker had anything to do with the original design of this model and the other Crossroads Special Editions (FS-20CE, FS-46-12) from that era. But I could be wrong about that. The specs of the F-45CE changed to maple back and sides a couple years later after the Gruhn/Walker involvement at Guild had increased, so maybe they had something to do with that change.