I had an Alverez Regent (I didn't realize, as Larry pointed out, that the name was given to many different models), when I was in High School. Mine was a plywood top. I made a new nut and saddle from bone and it made a nice improvement in tone. I did it mostly for the experience in working on guitars. That guitar was my first real setup job.
As said, the nut won't make much difference in tone. But the plastic they use is so soft that the strings will carve the slots deeper, and make the action too low.
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Paul Woolson
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