Yes, I've heard that the early 70s were not good years for Epis, or Gibsons for that matter. That is not the case anymore, of course, and hasn't been for at least a couple decades.
Wise advice, but it's tough to justify a $2,000 guiltar if you're a beginner, or not that serious about playing. It's usually an "evolutionary" thing, though. The more into you get, the better guitar you want. Here's my latest. It should be quite a while before I think I need a better guitar!
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2011 Guild F50R