When I was shopping for a cheap National copy, about 3 years back, I A/B'ed between Regal, Johnson or Dean (would that be "A/B/C'ed"?) at Elderly. The Dean was ruled out straight away - sounded crap. In the end I got the Regal, cos the Johnson sounded kind of muddy and vague where the Regal was crisp and clear. If you can, best to try both Johnson and Regal and see what you prefer (and get someone you trust to listen and see which sounds better from in front).

If they've improved over the last few years (per Bigchuck), might be worth trying one. Certainly the better of the Regal or Johnson will be a decent instrument. A National's probably twice as nice, but it's also five times the price. ;-)

Graham.