Hey Scott.
heather was conscientious enough to subscribe to the catalogs to ID her new guitar so I'm happy to post a picture on her behalf. The 1280 was the top of the line Lyle Western model in 1970. As we have discussed before, the Lyle models were basically Arias built by Matsumoku in Japan and imported by the Beaverton, Oregon distributor of L.D. Heater Music Company.
As also discussed previously, these Japanese import acoustics came across the pacific by the ton. I've no doubt it's a fine starter acoustic, the problem is Yamaha, Suzuki, etc. all made fine starter instruments in the 70's.
So heather, you have acquired a perfectly serviceable acoustic guitar, the problem is a bazillion comparable models still survive so your guitar is not highly sought after by collectors. If you want to play guitar, you have a great starter instrument. If you want to make a lot of money selling a guitar you are out of luck. I haven't found any comparable Lyle/Aria models so far but my best guess is that your guitar would be valued between $125-$225 depending on condition. Don't despair, I still own my first Yamaha acoustic which has visited many a lakesite-campsite and is probably still worth about what I paid for it in 1972. Bet you can't say that about your first I-Pod.
Here's a pix Scott, hopefully you can add to my observations: