Since I work in a Music store, I get to try a lot of guitars. I would agree with Midchuck that the 000-15S is perhaps the best guitar under $1000 that is available. It works fine for both flatpicking and fingerstyle and is very comfortable, with what I consider to be the quintessential folk sound. As far as 12-strings go, I have tried several Taylors, which are certainly fine guitars, but I think I prefer the sound of Martin's J-1215, which is certainly very affordable. I've been lusting after one for sometime now. YMMV, of course.