Bought a #700 that had way too high action, was kind of beat up, but had an underlying very nice tone. And it was very comfortable to play. So I decided to test out a solution that I found online at frets.com that involves removing the fretboard. Then a thin wooden plate is glued to the neck and planed to a wedge shape (as seen from the side). This raises the fretboard most towards the strings at the soundhole and less at the nut.

So I gave it a try. Spent quite awhile at first with a hot iron and a blow-drier.

I started at the soundhole and gently pried up the fretboard as it got hot enough to insert the tip of a putty knife and work it up and across. The iron was a steam iron and for this one I made the already bad finish even more cloudy...whoops.

Finally lifted the whole fretboard off. Found out 2 things: it's stained mahogany made to appear to be rosewood. The frets were brass. The neck is probably cedar. And I found this top piece missing from the soundboard. Also, the underlying neck jpint was not even meeting the top. See the pictures. (But there is hope, read on.)