I am old enough to remember Kay guitars back in the 70's. And what I remember of playing them is they were poorly put together, poor action (like mile high action), poor sounding pickups etc...They also seemed to always be the guitars that were the cheapest in all the mom n' pop stores, and the ones that were just sold to students, if they were sold at all. In other words, 
So, why am I seeing these things again going for $600 on up?
http://www.kayguitar.com/
I am assuming somebody bought and is resurrecting the name. So what's the story here? Anybody played em? Are they at all improved? Or is this just a case where anything vintage must be good?

So, why am I seeing these things again going for $600 on up?
http://www.kayguitar.com/
I am assuming somebody bought and is resurrecting the name. So what's the story here? Anybody played em? Are they at all improved? Or is this just a case where anything vintage must be good?