When I was parting Ibbies the 540R
was sacred and I would only keep or flip those. Except for a few basket cases like the one here. Here's the worst of it. It looked like a screw driver was used to I don't know what.
The good side is that the neck off that guitar has followed me through several years and different guitars and is still my favorite to play on. The frets are half gone in the 1-5 area but it doesn't buzz or fret out. It feels great.