| What is the bass? That sounds exactly like a vintage-style Fender truss rod. There's a whole thread here about doing the adjustments on this style neck (title says somehting about removing the neck to adjust truss rod).
Go find that thread, read the whole thing, and then deciide if it's a problem.
jte
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JTE Spelling, grammar, and punctuation do matter, despite the threats of death by grease fire!
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Lakland Owners' Club # 248
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