Welcome Quark! You're apt to get a lot of one-sided answers on this one (pro-Guilld, of course), but I'll toss in my two cents worth and try to keep it objective. First, I've never owned a Dearmond-equipped guitar of either brand, but I have had a Gretsch Tennessean & DuoJet from the 60s, and I have a Guild X500 currently (and will never let it go...) It has been my experience that in almost all cases, Guild's are of superior quality if you compare relative model to relative model. Pick up nearly any 40 year old Gretsch, and it's likely to either have issues with the binding, need a neck reset, or both. Gretsches also have a lot of gimmicky design things that people find a) charming or b) stupid. A switch to turn off the pickups? Next to useless. No tone knobs, but tone switches instead that turn your tone to mud? Again, next to useless. Zero fret... back pads... and on and on. Gretches are cool guitars, and the models from the 50s, which is when they had Dearmonds, might have had better build quality than later models, I don't know. But the 1960s models just aren't in the same class as Guilds quality-wise. Compare a bunch of 65 Country Gents or Tenesseans to the same number of Starfires from the same year, for instance, and I'll bet the Starfires have held up a lot better. Having said that, if you're interested only in Dearmonds-equipped guitars, I think Guilds came with those pickups only for a few years (62 - 64 maybe? Help me out guys...) And they tend to fetch higher prices than, say a CE150 from the late 50s with the Franz pickups. So, there might not be as much of a difference. Keep us posted on your search!