This came into my hands a couple weeks ago - it's a 2002 Gibson Flying V Faded. It's mahogany and mahogany, of course. But unlike many of the other faded V's, it has an ebony fretboard with crescent moon inlays.
I saw a couple minor issues when I picked it up: screw hole in one of the wings, a couple of screws missing in the pickguard, other screws in the pickguard were crooked, etc., but the neck on this is phenomenal. It's worn, thin on finish, and just felt perfect.
The pickups were not original. What was in it was a zebra JB bridge and a Seth Lover nickel in the neck. I thought the JB was too hot for balance, so I replaced it with an Alnico II Pro. I had the tech replace the pots while he was in there.
The pickguard screws were no big deal. They were wallowed out (most were,) so I went to a woodworking shop, picked up a chunk of mahogany, ground some shavings, mixed them with glue and filled them. After re-drilling, I secured a new white pickguard to replace the cream one that someone had installed - this is just me being anal about the pickguard matching the truss rod cover. The repairs were solid.
I decided against filling the screw hole in the side. I might do it some time. I just didn't care after I got it back and played it. This guitar just feels and sounds amazing to me.