I got the guitar today ('83 D212 SB), opened it up, and played it some. A few observations :
(1) The nut appears to have been replaced. The material is very white for a 25-year-old guitar, but it plays excellent - the string separation and action at the nut are very comfortable for me.
(2) The saddle, on the other hand, is very yellow, and has little to no room left for lowering, but it doesn't need any. The neck seems to be held on solid, and seems straight. Actually, the overall playability is superb. I love the neck.
(3) The finish around the soundhole rosette seems to be peeling a bit. A small piece of the finish has come off near the neck joint. Would like to repair this, but could be tricky on a sunburst.
(4) There is a sticker on the headstock, from the original store that sold it in 1983. It says "The Organ Center". It actually doesn't clash too badly with the Guild headstcok, but I would rather remove it. Isn't there some sort of substance used for pickguard removal, that can get glue off, without damaging the finish of the headstock? I recall it was called "nap" something or other.
The burst is much darker than on the eBay photos, but it is smokey cool looking. The pickguard is in wonderful shape and looks glossy fabulous. The body of the guitar is beautiful, and the back of the neck is very smooth. The headstock inlay is grand. I love it.
Now, let's talk about sound. The strings are not too old, so I can judge it against my GAD G212. I think the GAD may be a little louder. The bass notes of the Westerly D212 seem to sustain more, which is something I was hoping for. Also, the intonation and tunefulness of the Westerly seems to be a bit better, especially on the fretted B course. The Westerly may be a bit smoother sounding, but the GAD may be snappier, or crisper sounding. I have to play it some more, but right now, I would have to say that their sounds are comparable. In fact, I have played several 12-strings, including a Westerly JF30-12, Martin DX1-12, Martin J15-12, Taylor 355, Taylor 855, and the guitar that I would say my Westerly sounds the most like is my GAD G212. After tuning my D212, holding it, and strumming the first chord, it all seemed very familiar. My GAD has a new bone nut & saddle, and an excellent-sounding K&K pure-western pick-up installed. If it had the nicer Westerly headstock, the nitro finish, and the old Westerly pickguard, it would look "almost" as cool as the D212. Given that the D212 is no longer made, the next closest thing on the market today would have to be the GAD G212. In fact, if you were to ask me today, I would say that the GAD, while not being as cool as a vintage Guild, is comparable in terms of sound, feel, and playability ... and it says Guild. It is, therefore, to me, a Guild. I will likely hang on to both of them. That's not a problem.
I will post some pictures in a day or two, when I get a chance.