Initial Impressions:
All solid European Spruce & Mahogany, Ebony Fretboard, Rosewood Bridge. Very nice & solid guitar overall, the top is still quite "tight". Excellent set-up (3mm,4mm) out of the box. Perfect finishing. Bright trebles with decent mids and bass.
After 3weeks:
I sent it to Malcolm (http://www.mtlutherie.com) for a bone nut and saddle to help improve the tone. He did a great job and the guitar now has slightly better response and "rounder" tone. The top opened up abit, but I believe it will open up more in the months to come. The tone is more refined and the sustain has improved. Its a good guitar becoming even better!
After 1year:
Leaving it on the stand within arm's reach has been a good decision, I often play a tune and set it down. The guitar has opened up nicely, the volume is loud and clear, the spruce top giving plenty of definition. Occasionally I bring it to places to play, like at events and gatherings. Plenty of nice remarks about the guitar and I did not detect any movement of the action despite fluctuation in humidity and temperature. "Bullet-proof" finish helps to reduce effects of any rough handling (not that I abuse any of my guitars). A seriously good guitar for the money.
I will highly recommend this guitar to any student who is on a limited budget. Look out for the Yamaha sale and it will really be worth your money.
Jeremy
Jeremy