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That is an unusually localized bulge. Have you checked the braces and bridge plate underneath?
Also - maybe it is the angle of the photos, or just me totally wrong - but is that bridge a bit oversize for a Martin? If so has it been repaired for some earlier defect that is now showing up again?
Mark
It definitely didn't come out of the factory with that bridge plate. But it does look like a good repair job. Maybe it had a really bad belly or some other structural problem and it was "fixed" to this state, which is not too bad.
I recant my suggestion that the bridge itself looks big. The photos with ruler make it look pretty standard.
If it has good action, plays well and it is stable, it is probably not too much of a problem. We all get a bit of a belly over time. Nothing to be ashamed of.
If I may chime in, there doesn't really appear to be very much saddle exposed. So I think the saddle was lowered to improve the action. When this was done, the string wrappings were creeping onto the saddle. I propose that rosewood patch is actually a nicely executed spacer to keep the wrappings away from the saddle.
Nice guitar. Only 175 of them made that year.
The black pickguard IS the '"period correct" pickguard for that guitar. The RW bridge plate (perhaps not that specific one) is also the correct material for a 70's Martin. This instrument was made in Martin's worse quality period. Personally, I wouldn't have given more than $650-800 for it.
Having said that: If it speaks to you.. that's ALL that counts.
If you wish to CONVERT it's cosmetics to look like an instrument from the late 40's:
Correct the headstock shape. By the 1970's, Martin's headstock template was sooooooooo worn that it spawned a whole slew of ugly "too rounded" headstock Martin's. In fairness, this was also the period where they went from making a few thousand instruments a year to making over 10,000 a year to keep up with the "CSN&Y" inspired demand for their instruments.
Get rid of those gawd-awful Grover Rotomatics. Grover's 18-1 Sta-Tites are the working man's Waverly for well under $50. You'll also need conversion bushings.
Replace the bridge plate with one made from Maple. Also, getting rid of the well executed added pad will likely dramatically improve the guitar's overtones.
I second Josh's theory on the bridge plate reinforcement. I also agree that a higher saddle will give you more string break angle. This may require yet an additional reset.
We all have to remember that just because a guitar had its neck reset, it doesn't guarantee that it was done correctly. Also, 70's Martins came with a factory action of about 3/16-1/4" at the octave. Yep, they were nightmares for the right hand.
Again, nice axe & BEST of luck :)
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