Spent the afternoon working on the Yam and I think it should end up pretty good. Tatty old strings are off, I’ve had the tuners off and thoroughly cleaned them. There are cracks in two of the plastic rollers, but they seem stable and perfectly able to hold tuning (I could easily get it in tune with the old strings). I’ve given the fretboard a damn good oiling (the first of many, it really is dry as a bone) and I’ve taken about a mm and a half off the backside of the bridge which should hopefully equate to an action of about 4.2/3.2 or so when restrung assuming I’ve got my maths right! Easy enough to shim higher if I've gone too far, but I suspect I’m over being cautious here and may need to take a bit more off. That seems to be the action most classical players like even though it sounds monstrously high to me! I think the neck movement mentioned above is pretty typical for an old acoustic; its straight until it hits the 12th fret body join, then straight again after, i.e. the issue is actually a little give in the neck-joint/body, not a bow in the neck itself. It is pretty minor, but is certainly the thing responsible for the initially very high action. I’d consider it a real issue with an electric, but given the target action is just over 4mm it should be easy enough to deal with!
As to the guitar itself it definitely has a laminated top, and I assume sides, though to my surprise the rosette and ornate bit on the bridge does appear to be wood inlay, not a transfer. There is no distortion in the top, it seems perfectly flat and true and the bridge is nice and flush with no sign of pulling up. All the internal bracing seems sollid and there don’t seem to be any clicks, clacks or rattles when tapped anywhere, so I’m pretty confident it is structurally sound. I’m hoping it will sound pretty good with the new strings assuming I can get the action in a zone I can cope with. Certainly these old Yams seem well liked by people who know a hell of a lot more about classical guitars than I ever will.
PS One thing that just occurred to me is that given this guitar seems so dry I wonder if some time in a case with a humidifier wouldn’t shift that neck joint back a little? I haven’t got an acoustic-sized case, or a humidifier, which makes testing that theory a little awkward though...