Ah, there we go. You did have the correct terminology. Guitar companies call that laminated hardwood. I still call it plywood. Tomato/Tomahto.

If you're looking to have a guitar body for the long haul, that wouldn't exactly be my choice. For the reasons I stated earlier. As a beater guitar or experiments it would be ok. Maybe keep it around to run painting experiments on or something. But for something that will last and be more durable in the long run, I'd go with a solid wood body.

AS far as what kind of body, I've been going more by weight factor and/or specs than any kind of "tonewood" factor stuff lately. I personally like Basswood because it can be extremely lightweight. It is softer than most woods, but I'm willing to deal with that aspect to save my back a little. There are times when we play 3 hours a night. My Gibson stays at home.

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HaleAmano- House Of Sharks (Now On iTunes)
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I know this topic is well reprisented, but I cant resist. Like most of the boys have said. The wood you have is probably as good if not better than something else as long as it's not cracked or worped. if its OK go with it and use your cash on ELECTRONICS, they will make a big difirence in your final sound quality. good luck and have fun.

The body seems sound. No cracks or warping of any kind. It's very smooth now that I have a few coats of sanding sealer on it. Just had a few small dings that had to be filled in.

Thank you all for the helpful feedback. I have limited funds so with that in mind it looks like I will be upgrading the pickups. It is my first refurb of a guitar so it is going to be a learning process.

Better this guitar than a more expensive one that I may screw up.