The guitar I own right now, my main guitar (I also have an Alvarez 12 string) is a model called a Penco A-160. I got it from my uncle when I first started to get serious about playing guitar. All I know about it is that it was made in Japan, it was distributed by the philadelphia music company, and my uncle tells me that he got it when he was young and began guitar which was 30 yrs ago (according to him) I would ask him for more info, but he and my aunt got divorced last year and we don't speak with him anymore.
Ok, its got electronics, a soundboard transducer I believe, with no eq. It works sometimes, but on many days it will just randomly not work. When it does work it sounds pretty crappy. From looking at and playing it, I have come to the conclusion that I'm pretty sure it has a solid top. I have removed the pickguard which was peeling up and added a strap button on the heel. There are quite a few knicks and dents on it, but nothing major. It works and plays beautifully and sounds better than most guitars out there imo. The best sample you can hear of it is in my cannonball cover you can listen to here: http://www.fnsweetjams.com/ (all recordings on that site are mic'd not the shitty pickup)
Basically I want your guys opinion. I have been playing for a few years now, and I love guitar I'm commited for life. I would like to become a lightly gigging musician on the side in college and I was wondering if you think my guitar could cut it. I would of course replace the electronics. Do you think I should invest in a "better" guitar, or stick with this one?
I know in the end it is my decision, but I would like to hear some other opinions.
Here are some pics.




