I read with great interest as this thread evolved last month. I've played guitar for 45 years and reading this thread, and being in the process of building an RV-7, got another case of GAS (guitar aquisition syndrome) and decided to add to my collection. I have had a Martin HD 28 for twenty plus years and that is the sound I based my search upon. My Martin has a big base, full midrange and clean treble.
The two most important criteria for my search were size and sound. I first played the Baby Taylor with a spruce top. Very thin base and over all bright, bordering on "brittle" sound. Next I played a mahogany topped Baby Taylor. This guitar had a much warmer over all tone, however, had a thin base also. I then looked a 6-8 other steel and nylon stringed guitars , but none were as good as the mahoghany Baby Taylor. The salesman then brought out a Little Martin, an LX1. It has a solid spruce top, high pressure laminated (Formica) body and a laminated wood neck. 37 laminations in the neck. The little ax has a good base, acceptable midrange and, to my ear, a thin treble. All in all the best sounding travel guitar I played yesterday. It now sits next to my HD 28. I nicknamed it "Marty". Does the little ax compare to my HD 28, no way! It will, however, fit in a tip up RV-7 and is better than nothing.
If you are looking to buy a new travel sized guitar I suggest you play the Martin LX1 and both the spruce top and mahoghany top Baby Taylors side by side. It all depends on your ear. Just my opinion of course.