There are many, myself included, who are forced to take the ferry rather than build a bridge when it comes to purchasing new instruments. Often times, good used instruments are not available locally and so there is the temptation to buy low end with the view of adding upgrades as funds allow.
It has been said that perhaps the most popular Gretsch guitar outside of the pro-series is the Gretsch G5120. It is not hard to see why this is the case given the orange glo and the price point around $600 US. Used they come up all the time often significantly less than that.
Without a doubt, purchasing a 5120 will give you a good idea whether you are going to be able to live with a Gretsch with regard to scale length, feel, weight and so forth. I was surprised to find that the existing bridge was adequate and adjustments to the same resulted in a comfortable feel and great intonation.
Three separate areas did not meet the grade for me and after a time some changes were ushered in as my budget allowed it.
First off was the change of tuners to Sperzel locking tuners which made tuning much easier. I found someone who purchased them in error (they wanted Nickel) and so the chromes went to me for a song. Beware you need to drill or sand out the holes in the headstock for the Sperzels to fit. Patience is the order of the day. You will also need to fill the holes and then find the right touch up orange. I am still working on the last stage of this.
Well here are the front and back views.
Next is the giant question of tone which is, afterall, the very reason for getting a Gretsch to begin with. The Internet is full of after-market possibilities and TV Jones will come up as a strong possibility before you have searched but a few seconds. Well what will it be then. This is a time consuming process and a tough choice unless you see the product before you. The TV Jones site and youtube was helpful in this regard. After my research and wanting something a bit different, I decided on the Supertrons in the bridge and neck positions. I am more than pleased with these pups. In the neck it is warm and jazzy and in the bridge it bite. Together is the classic scintilating tone that speaks volumes. At the end of the day I will be surprised if many listeners could successfully identify the supertron or the filtertron in a blindfold test. I have gone with the silver ring with the clear spacers, two at the bridge and one at the neck to get the right height. You will need to drill holes for the rings so measure twice and drill once. In this matter practice does not make perfect, perfect practice makes perfect so take you time. You will need to fill the holes before drilling.
Here are the Supertons installed.
Lastly is the bridge and a close look at Gretsches certainly reveals that all bridges are not created equal. I will let you know the outcome with regard to the bridge modification as it takes place. The Tuneomatic is certainly acceptable for intonation but is lacking in tone at least to my ears.
While I await the arrival of the bridge I have installed Schaller Strap locks. I would not do with with a professional model but in the case of the 5120 this is a great idea. A look at the strap lock button is below. Again, how often does one put a strap on and off an instrument. This modification has already reaped dividends to my way of thinking.
You will notice that the guard has been removed. I like the more symmetical look with it temporarily off. But more on the guard later.
Thanks for listening and looking. Twang.
(It's a total coincidence that they are made in Cleveland, of course, and has absolutely no bearing on my opinion.) 
Congrats on your 5120!
