I have a few kays from this era... matter of fact, I was in the same boat... bought a 3pu speed demon body/neck in the same state (almost; the top and back where a bit cleaner).  Those aren't so much "cracks" as wood shrinkage at the wood joints in the core.  They're the first point where paint flakes away.  You're pretty safe in terms of stability.
You can turn these into some seriously great players.
A neat little trick with bringing this beast back... Eastwood Hi-Flyer pickups fit into the routs almost perfectly.  They come up on ebay now and again.  Mike Robinson's own ebay store sells them directly from time to time.
Good luck with the wiring harness... hahaha... that was probably the hardest part of my resto.  Search the General Guitar Discussion forum, you'll find a post about the ordeals I faced on the restoration of my Demon haha!Statistics: Posted by Michael Ambrose — Mon Jul 26, 2010 2:59 pm
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