I have old guitars that are a bit beaten up because I could get them at a good price, and old guitars that have natural lacquer cracks. Once the lacquer strats to go on an old strat it is easy to get small chips in it, however some relics are really over the top. My Bravewood is not very chipped, but is cracked and the neck has the same feel as my real 60's Fenders. John is making me a copy of my 57, so that I can actually take it out with me! The older guitars are becoming a bit too expensive to take out. The copy will not be 100% the same, this will be 2 tone sunburst, rather than the white that the 57 is, and the neck will be a bit wider (I think the 57 was unlucky in some refrets and lost a bit of width!!!).
The relics I don't get are ones like the Nash where they just dull the finish and sand the edge where a forearm wrapped in sandpaper would rest. I am not a big fan of very shiny finishes though, especialy the poly finishes which are like a plastic coating on the guitar!