I visited the website of the evil empire (GC) and noticed a late first version S-500 (built after the restyled second version came out in ’87/88), which featured a second-generation fine tuner bridge and string locks. I was attracted to that bridge because I recalled the incredible “snap” of the strings on the ’88/91 Skyhawk I briefly owned that had that bridge. [link: viewtopic.php?t=17763] I speculated that the spring tension of the elevator screws on the L-shaped rockers (thanks, Jos!) contributed to that “snap,” unlike any other G&L I’ve played.
My first G&L encounters in the wild in the ’90s were both S-500s, and I’ve played maybe three or four, both U.S. and Tribute models, yet none grabbed me. For years, I was content with my Comanche Studio VI, ASAT Jr., and Skyhawk. When I began adding more, it was mainly on the ASAT side (YCNHTM!) and the Skyhawks.
Naturally, the evil empire was greedy. But I recalled that a similar 1988 first version S-500 was listed on Reverb in July. So, I located that listing and took a closer look. Listed as “Good” condition, the mostly well-focused photos made its condition look better than that to me. It had only one small chip in the finish, on the neck heel. Same second-generation fine tuner bridge, string locks, and natural gloss ash body; the only difference was a rosewood fretboard instead of maple. Oh, and the price and the mom-and-pop store. I prefer to support the rebel alliance. The listing had 30 watchers, but I made the first offer. To my pleasant surprise, they accepted my rationale.
[As an aside, my search of Reverb also turned up a listing from this summer that had quickly sold: another late first version S-500 in natural gloss ash with maple fretboard and DFV that was dead mint. I belatedly realized that it was from Greg G./ggjaguar’s collection. Doh! The Quest requires that one pay attention!]
Anyway, after the guitar arrived a day late, I wanted to set up the relief, bridge tension/height, neck angle, action, and intonation. But the string lock nuts required a 7/64” Allen/hex wrench that is neither in a standard G&L set nor in a typical hardware store set, so I had to hit my local hardware store for a separate wrench in that size. (Why didn’t Leo design for an Allen wrench size used elsewhere on G&Ls, such as for the three-bolt neck adjustment?!?) The initial setup went well. Next, I had to wait for a shipment of my preferred Pyramid Nickel Classics round core strings, in 9–42 gauge, which is what G&L spec’ed in the 80s. I originally only put them on my Broadcaster, but they might contribute to the fantastic playability of the aforementioned ASAT III. The round core tension feels great and they have great tone that lasts a long time, so their extra cost balances out for me. Thus, another week passed before a string change allowed me to pull the neck and check the dates (late 1988). Interestingly, no “grocery store” sticker in this guitar.
Finally, with better strings, along with a reset of the bridge tension/level because of the lighter gauge, I plugged it in again, but “for real.” This guitar sounds excellent: woody in the neck, great SRV tone in the neck+middle, good Jerry tone in the middle, classic quack in the middle+bridge that’s great for Richard Thompson as well as my recently learned favorite, Stephen Bruton’s “Right on Time” (tho humbuckers are killer for that song), and the bridge pickup is solid. The locking nut allows for deeper bends with stable tuning (not that the DFV is lacking), which I will explore a little (not having been a deranged whammy user like Adrian Belew, Steve Vai, EVH, etc.).
I hadn’t noticed until now that G&Ls with string locks do not have a string tree or retainer on the headstock. So, if I chose not to lock the nuts, the first two or three strings might not have a sufficient break angle and could have a “sitar” effect. I’ve imagined a couple of potential solutions that wouldn’t be permanent…
Further, the condition is far better than “Good”: besides the heel chip, only one small impression on the side below the jack; a few minor dimples on the top; no belt buckle or button impressions; the neck is flawless, headstock nearly perfect; the frets look new; no corrosion. I applied lemon oil to the rosewood fretboard because some upper frets had gaps below the tangs, and it probably hasn’t been moisturized for nearly 40 years.
Already, this guitar’s tones have inspired a couple of potential new original songs and some covers that are new or were neglected. I can’t ask for much more than that! I can't say that I notice the same "snap" as that Skyhawk; regardless, this S-500 plays well.
If I’m not careful, I’m gonna need a bigger boat…
Front:
Back: 
Headstock:
Lot of opportunities in the waters I hear. Hope this leads to more “inspiration”.