Well, I picked it up this morning...
First off - for such a small guitar, it weighs a ton! Definitely an Ash body. It tips my trusty bathroom scale at 8.5 pounds.
The finish is in pretty good shape. There is a little case wear on the lower bout and upper cutaway, but nothing horrible. I was expecting a finish along the lines of a solid Duco-type finish, but instead got a transparent red along the lines of an SG finish. There are small chips on the back around the string ferrules which indicate a pretty thin finish. There are virtually no dings anywhere on the body, further evidence that the owners took pretty good care of it.
The neck shows uniform wear on the back - this guitar appears to have a lot of miles on it, but has seen very little abuse. The first three frets are worn down on the treble side, but still have a lot of life in them. Action is uniform up and down the neck, with out a buzz in sight. The 'F' tuners are pretty solid, with no slippage or binding. I'll give them a little drink of 3 in 1 later though, just to be on the safe side. The bridge is intonated pretty well, but I was surprised to see that the locking nuts aren't tightened at all! As long as the intonation holds up, I'm happy just to leave the bridge be. The chrome bridge plate shows a little pitting, but that's to be expected.
I will need to get used to the skinnier neck profile. It's extremely thin at the nut, but seems to be normal width at the 12th fret. Reminds me of a Mustang neck. The manual (yeah, the original manual is in the original case!) says the neck is 'graduated,' so I'm assuming they were referring to the width.
Tonally, it's pretty much as advertised - one Seth-designed humbucker (which sounds a little light through my Lunchbox, and will bear further investigation through the Twin later on), with a 3-way coil tap switch and a series-parallel switch. Brookdalebill had it right - there's virtually no difference between coils 1 and 2 when tapped, but it does deliver a nice single-coil tone without the sharpness of a Tele pickup.
This is an odd little guitar. I'm going to take it to rehearsal and to my surf band friend's gig this week and road test it. I'm enjoying just sitting here playing it at low volume, so that's a nice start.
I did take pics, but for some reason my laptop and my card reader are not on speaking terms. If I can get to the pics later, I'll post 'em.
I'm kinda sad to see the Ibanez go. It's a great guitar and my trade partner fell in love with it right away, so I know it'll get the play it deserves. And I'm going to give this Lead a good workout, so I'd call it a good trade.
- D