I completely agree with Midchuck's two points. I own several guitars. I've decided though that I will never ever purchase a brand new instrument again although 2 of my guitars were bought new. I think a new guitar is a like a new house. It requires a "settling in" (and "playing in") process. My Collings OM which was bought new in '98, required a lot of playing before it began to open up around 10 months after I got it. I also have a custom Martin D-42, again ordered and received in '97. This particular instrument sounds so good (for a new instrument) that it never really required a playing in process. Out of the case, it was a cannon with deep rich tone, reminiscent of something 30 years old. The Engleman top might have had something to do with this. It's a shame I likely won't be around to hear this guitar when it actually hits its prime in about 30 years. The one vintage instrument I own is a 1950 Martin D-28, and is everything one would expect in a 50 year old D-28. Because it has many "prestige marks" (as Doc watson calls them) and has much playwear on it (but is structually sound and solid as a brick sh*t-house) I don't have any trepidations or worry about taking it out of the house to go and play with friends, nor passing it around to those who want to try it.

Bottom line though, is buy a guitar for the way it sounds and plays to you TODAY, not how it's going to sound 25 or 30 years from now. And, just because an instrument is older or vintage, does not necessarily mean its a good one or will have the sound you expect. I've heard pre-war D-28s that were dead tone wise, and brand new Martins (and other manufacturers) that were killer out of the case.