A lot of people have cheap old acoustic guitars that sit in a closet or under a bed that they have given up on because they are hard to play or they just don’t sound as good as that Taylor or Gibson they bought or are thinking of buying. But fact is they can improve the sound and playability of that old ax with a few modifications that don’t cost all that much. If you’re not handy with tools yourself take it to a guy that knows how (a Luthier)and let him look it over and see if it is worth the expense of making it right. Chances are it will be. Usually if it is otherwise sound, that is no bad Breaks like broken bridge or neck failure then it might be worth it. The guitars coming out of the factories in the orient can still sound good even though they may be made out of laminated wood. The best thing to transfer the sound is a bone nut and saddle; and bone pins for the strings if you want to go all the way.All of the manufacturers use plastic because it is a lot cheaper and easier to work with but it dose not perform as well as bone. Then if it has a string buzz you could give it a fret leveling job. If the strings are too high and hard to play down the neck you can lower the saddle or in some cases lower the bridge buy removing some of the wood. If the neck is not straight almost all of them have an adjustable rod that can be tightened. Of course new strings always helps. So get that old dust collector out and look it over it might be worth a try….