I hear ya. I had a great time with my one Vintage Project: the Frankenstein ‘38 L-00 Neck/‘48 J-50 Body. The money spent could never be recovered in a sale, but I love the tone and probably play it the most.
Having said that, I have recently been getting a lot of joy out of buying used newer guitars based on old models (Larson Brothers and Bacon and Day inspired) built by Tony Klassen (his less expensive Crooked Star Line from New Era Guitars).
I also have a Jubal built by the late Aaron Cowles which is based on his old ‘34 Original Jumbo that sounds great.
Of course there is no substitute for old wood, but some modern builders are doing some great work at getting a very authentic tone, at least to my ears.
Now if someone wants to give me a Roy Smeck already converted with no work needed, that would be okay. 😉