Hi Al.

When Meadowhall shopping centre first opened, there was an allocation of small stands available for local arts and crafts. A bloke set up stall there turning cheap guitars into good ones. He got guitars similar to the ones you mention, changed the frets, steam pressed the necks true, changed the bridge top, nut and machine heads. That's it. Full stop. (Doing it yourself, other than a vice large enough to true the neck whilst pumping steam around it...) I reckon you added about £30.00. to the cost.

The results? He was selling a £30.00 guitar for £75.00. His "before and after" demonstrators gave food for thought and I bought a Laramie (the name on the head) dreadnaught with ply top. Sounded great, played great and I used it in clubs for a while till it got nicked.

I reckon if you buy it with a straight enough neck and / or may have truss rods, then just buy some fret wire, bridge insert & nut, an afternoon buggering about might give good results?

Cheap guitars are better now than before due to pressure seasoning of wood, CNC profiling of parts for better fit and tighter tolerances, better glues and tighter quality control, not to mention more automation meaning less human mistakes during manufacture. (He says, ducking whilst Luddites smash up the machinery.)