I'll say it right up front: this is a round-necked guitar, but the neck has a moderate bow so I am selling it with the proviso that the buyer should expect to play it as a steel. Strung up for fingerstyle, the guitar is playable but the upper frets get difficult. It may be possible to correct the bow, but I have not tried. I have fitted it with a nut extender (included, but not shown in the pictures) and tuned it in A6, like a lap steel. The sound is definitely that of a spider-bridge guitar, but the metal body gives it a hint of the National sound as well.Now that the bad news is out of the way... the guitar is otherwise in excellent condition. As far as I can tell, it's all original. The Duco finish has some honest wear on the top, but there is no major paint loss and the back is remarkably clean. The guitar has the offset spider usually found with these models as well as the original tailpiece (which is free from breaks or repairs). There is no structural damage to the body or neck - no dents or cracks. The cone is free from dents and creases. The frets and board, should you decide to set up the guitar for fingerstyle, show only light wear.This Old Kraftsman version was sold through the Spiegel catalog in the '30s, and aside from the name on the headstock, it's identical to the Dobro and Regal M-32. Those letter decals are original; Spiegel offered to put your initials on the instrument when you ordered it. The body is made of steel. The feel of the neck and the presence of a serial number suggest that this particular guitar was built by Dobro rather than Regal, but I can't be sure.The guitar comes with a modern hard case.