I have a 50-year-old T8 National (single pickup). It sounds... 50 years old. And good.
Think of the slightly red-lined, ribbon-mic-recorded sound of the "Walkin' After Midnight" intro. That what it sounds like.
If I were to be swayed by a new, middle-end steel, it would have to be:
- 8-string
- single or double-neck
- short scale
- tone and setup similar to a Fender Stringmaster or a Bigsby...
especially similar tone knob placement & style
- option of adding 2-3 pedals
Ideally, it would be a half-price version of a Fender 400, Stringmaster, or this totally hot Bigsby:
http://steelguitarforum.com/Forum9/HTML/001242.html
The price/performance barrier is really starting to crumble (look at home recording). I don't doubt that a great instrument could be made for half the price. The easiest way to prove it is by doing it.