I still got my first guitar also. It's in storage with all the other favorite guitars of mine. It has no paint on it anymore (first experience with a sander), scalloped fretboard from the 12th fret on, and I think (haven't plugged it in in about 10 years or so) that I rewired the guitar so that only the humbucker worked with the volume knob. I took out the other pickups and all the swithed and tone controls. They were all too much work. I like the "simple is better" philosophy.
Man all this nostalgia. I might have to go and pull it out and put some strings on it. :)