I've owned 3 contemporary series guitars. I still have a CV2 and a CD1. I sold the CV1-C. The CV2 and CD1 are MIRC guitars, The CV1-C was not. Of the 3, only the CV1-C required some actual woodwork to set the neck correctly. The heel had not been properly adjusted at the factory.
The neck on the CV2 was not correctly attached. I removed the neck and messed around with reattaching it using different sequences of adjusting the bolts until I got the angle correct. What I found was it's possible to over tighten the back two extension bolts. Once I figured this out the angle and string height are great. I did not have to do any adjustments on the CD1.
I bought the CV2 first in spite of all of the horror stories about the Contemporary Series neck issues. I knew it was a MIRC, but I was looking for an F40 size spruce maple guitar and the price was too good to pass up. All I can say is it's one of the best guitar buying decisions I've ever made. The top and bracing is Adirondack spruce, with beautiful, flamed maple back and sides. Best sounding guitar I've ever owned, and I've owned a lot of guitars. I put a K&K pure mini in it and it's my main gigging acoustic. I have people come up to me all of the time saying how much they like the way is sounds. And it has a great overall burst. Guild does the best bursts! I'll add a photo below.
The CD1 is a spruce Indian rosewood dread that just rings and is great to play. While I was not really looking for a guitar like it, the price was too good to pass up. And I'm glad I didn't.
Once I corrected the heel angle on the CV1-C it played great and the next owner got a good deal.
I've owned about 20 Guilds over the years, from Hoboken to Oxnard. The 3 contemporary series guitars are among the best playing and sounding of any. The CV2 is my favorite Guild ever, however I just got an F20 Standard built at New Hartford that is amazing.
Doc