Oh, Rodger. Rodger, Rodger, Rodger.
A beautiful guitar, and certainly a magnificent-sounding guitar to be. But have you thought this through clearly? I mean, really: My experience is that if you play a McKnight guitar enough times, you can't let go (see: Bullock, McKnight Cigar). I fear your grandson will never gain this guitar, after you "breaking it in" for a few years.
On the other hand, and just sayin': You know what happens when Grandpa says, "You can have my Lamborghini in a few years, when you're old enough to drive." If Grandson knows where the keys are kept....