My first guitar was a '74 Alvarez 5023, and it had that exact same bridge.
It sounded good back then, and it still sounds pretty darn good for a $150 guitar. If that were my guitar, I would put it back to original condition, bridge and all, and call it good.
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2002 Martin OM-18V
2013 Taylor 516 Custom
2015 McIlroy A-19
2022 Taylor 712ce
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