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This is the tool: https://www.stewmac.com/luthier-tools-a ... tool-sets/

I've got a mid 60s Guild F20NY in for a restoration and the truss nut is sheered off. The access to the truss rod appears to be just like Gibson so I'm fairly certain it would work. I cannot however figure out what the original tread count was on these truss rods though I am thinking I may be able to 'overwrite' the treads with the SM die tool. Or it's probably the same as Gibson anyway. Can't find any info on that. Something like a truss rod database would be awesome. If anyone knows please let me know.

But back to the tool, has anyone got experience with it and can chime in? Do you think it weakens the headstock too much?

Yes, I bought one to rescue a Gibby SB-450 bass. You have to be careful not to angle the wood removal tool toward the back of the neck. It has to be kept in line with the rod. Other than that, my only recommendation is to go slow. Take a turn at a time and check the depth after each one. I've seen pics of the auger going out the back when it's not kept in line.
Do you have the nut? If so, Alden makes a tiny "easy out" called a "Grabbit". Drill a small hole in the rod and use that to remove the rod, after soaking it in some hot, thin oil. The nice thing is one end is the correct size drill bit for the other end tool. See pic.

It does work well, however there were a few things that I did different from what the instructions said. Of course, the Gibson had the big hex nut, and you would expect to go back with that. It so happened that they sent me the wrong die set. They send one for a fender rather than a Gibson. However, the threads were the same. I got to thinking that a using a Fender nut would require less material to be removed in the cavity, so I got one of those in, and used round washers. The only issue was the length of the "bullet" nut caused it to stick out past the level of the headstock. I solved that by chamfering the slotted end of the nut so the TR cover would go back on.

Point is, this allowed me to not remove as much material as I would have had to, had I gone back with the factory nut and washer.
Note: I was NOT the one who scorched the cavity. That was there when I got it.

Great post Al, Thank You!

Thanks Allan appreciate it. The original nut is long gone.

Are you thinking that the rod on the Guild could be pulled out? I was thinking that there is a big anchor in it and magnets on the fretboard show that may very well be the case. I have seen a method of routing out a block of ebony right over the anchor, removing that, then pulling the rod out. I'm just trying to pick the right method for this guitar and the SM tool looks to be the easiest solution.

Of course last night I was trying to make a plan for this guitar which needs a neck reset too and you know how these Guilds are concerning neck resets. Might be easier all round to just remove the FB!

Thanks again and great pics too.

Are there any threads left on the rod? If so, I'd be tempted buy a trio of the three different thread nuts and see if you can thread one on the rod. If not, then you can use whichever nut and thread cutter you want.

BTW, then when you're done you can sell the set to recoup some of your costs.

Hard to tell if there are more threads without digging in. But as you can see it sheared flush whit the wood that is left over.