What to do with an old acoustic

The first time I ever owned a guitar, was several centuries ago, when I was about 14. The guitar didn't last very long, it was very cheap and had an action that was reminiscent of the Clifton Suspension Bridge. Shortly after, I got my father to invest in an electric with amp (both of which I still have). The acoustic got put in a plastic bag and was relegated to the loft space, where it stayed for 40 years or so (tuned, I might add!). When I bought my lovely Diamond slide, I asked Ian McWhee to post it to my mother's house (I was going there to visit). Not wanting to take a guitar with me (and knowing how high the action on the old acoustic was, I decided to make it a slider and give the Diamond slide a try-out.

The neck is from a classical guitar - flat as a pancake, it is - with slotted head and open tuners. The bridge is floating and as cheap as chips. To add to the cheeseyness, the "rosette" is a bit of black paint (as is the "binding"). For all that, it appears to have a nitro finish (or very good imitation of one)!

The holes, on the deck, are where I tried to "upgrade" it with a Framus Jazz pickup (which I also still have).

As I said, the action is high. It was also like that, when I put the thing away 40 years ago! When I took it out, it was about 50-60 cents flat - and that was on all 6 strings. What is of note, is that the neck has NO truss rod, that I can find.
It now sports a new set of Martin 12's and the bridge was adjusted to get a very reasonable intonation.

What I find so amazing, is that the guitar was as cheap as you can get, but yet it has an arched back!
Interestingly, the guitar has an even, full and rich sound - I'm actually very impressed.
So, don't pass a cheap acoustic by, take it home, give it a bit of TLC and you can get yourself a nice slider for peanuts.