Thanks everybody. I bought the guitar on ebay a few months ago. It was described as perfect, mint, flawless and is not, but is well worth what I paid and in pretty good shape for its age. I cleaned it, replaced the G string tuner, put on the speed knobs and it's just a great player. I'm so glad I kept it! The speed knobs were temporary. I have a set of chrome insert top hats, but haven't put them on.
Here's a shot of the back that shows some of the worming:
The back and the edges are the worst parts, but the faded finish hides marks well and I grin like an idiot every time I play it.