@poser..... WALDO sounds good, but you must think 'Old Time Gut String' and not 'Steel String Bluegrass'.
More of a plunk than a bright sound, but that is what you got with GUT strings. Also, since this banjo was probably manufactured sometime between 1893 and 1902, Earl Scruggs wasn't around to show off his 3 finger banjo pick'in. Most banjo players, back in the day, played '2 finger style' or '2 finger thumb lead style'. The "Top 40" hits were: "After The Ball", "You Are My Sundshine" and "Take Me Out To The Ball Game".
-frettedstrings