Ok this is not a scientific test but the recordings done on the same exact mic setup, the first is my 1969 D-28 Martin cost well a bunch

The second is my Alvarez ... cost 400 bucks or less anywhere, The martin Brazilian rose wood, the Alvarez Indian Rosewood

D28

Alvarez

Now not on a recording I can hear the difference but recording they are pretty darn close .. do we make too much out of expensive guitars