Sound - I reviewed the M-32 many months ago, and since then, we've sold a ton of these guitars, so I figured it was time for a follow-up review. These guitars are gorgeous--no question--but what makes them so satisfying to play is their great tone. Every Lakewood I've played is marked by a fantastic clarity, and intonation that lasts all the way up the fretboard. The Englemann spruce models add a nice shimmer that I simply haven't heard on any guitar in this price range.

But clarity alone would make this a pretty boring-sounding guitar. And it ain't boring: The M-32 also boasts great volume and projection. The volume from this guitar is likely aided by the slightly larger-than-normal soundhole, and the projection is most pronounced on the Sitka-topped models. It's never going to duel a banjo, but it has the volume and headroom to stand up to flatpicking when you feel like giving your fingernails a rest.

Moreover, in the midst of all that clarity is a rich warmth that complements the rest of the tone nicely, and doesn't sacrifice a bit of balance along the way. There are few guitars anywhere that can match this rare combination of clarity and warmth, and even fewer for $1950, at least that I've run across.

Playability - The M-32 is a supremely playable guitar. Its size makes it a pleasure to hold, with a tight waist that sits comfortably on your knee. And anyone who holds one of these for the first time finds the neck profile remarkably facile--slender, but without the taper that you often find on guitars as the neck passes the 9th fret.

Finish - When you pay a lot of money for a guitar, you expect it to at least look decent. But these Lakewoods go a step further. Our customers have said time and again that these are finished like $3000 guitars, and I have to agree. The abalone-rosewood-abalone rosette, the all-wood bindings, the headstock overlay, the perfect gloss finish, and the gorgeous topwoods (we always include the AAA upgrade in the price) are features you'd normally expect to pay a whole lot more for.

Summary - $1950. One thousand nine hundred fifty dollars. I'm hesitant to use words like "bargain" and "value" when referring to a guitar as fine as this M-32, but it has to be one of the best guitar values at any price. Certainly, in the $1500-$2000 zone where so many buyers find themselves, I find few guitars as satisfying. This is just a great guitar that's a pleasure to hold and play, the kind of instrument that you can't put down even though you have lots of other work to do.

Our customers have written us with lots of praise for their M-32s, but rather than reproduce all their comments here, I'll just note one telling fact: We have the easiest return policy in the business. If you don't like your guitar, you can just send it back for a full refund. Occasionally, we get guitars returned. That's to be expected given the subjective nature of acoustic instruments. But with these Lakewoods, the return policy is moot--no M-32 customer has ever returned his guitar. I suppose it's also worth noting that since early June, no M-32 has lasted in the shop more than 1 day--they all get spoken for before they even arrive.

I love this guitar. Our customers obviously do, too. I recommend it without reservation.