The Old Guitar looks like an interesting project. The New York Times has a description, and the story of the (crappy) old Kay guitar they ended up using for the project:

Connor Millican and Corey Pane, two friends from Connecticut who were playing music together and dabbling in video production, had an idea: They wanted to put a funky old guitar in the hands of some funky young musicians and ask them to pluck out a tune. While the players would vary, the guitar would be the constant, becoming a shared tool between artists with different styles and methods.

~ Becky in Long Beach