Peavey T-27 help

Cobra1957

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I recently acquired this Peavey T-27 from a friend and when I opened it up I found this pink pick. You can see it in the pic with the pick guard turned over. It has a name on it, Cathryn Craig and I thought it was strange that someone would leave a pick with their name on it in a guitar. Is this something that artists do? I looked her up and she was on tour this year until her health went south.
Second question- as you can see the paint chip is quite large but fortunately someone had the foresight to put it in place with a piece of electric tape over it. How would be the best way to attach that chip back in place?
Third question- how do you adjust the string height on one of these guitars? There is no adjustment for it st the bridge that I’m aware of?
Forth question- what is that adjustment set screw in the neck below the screws that hold the neck on?
 

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Re: Peavey T-27 help

Pick: no idea. Maybe for theft recovery purposes?
Chip: super glue but be careful with it!
Extra neck screw: it's to adjust the angle of the neck relative to the body. You loosen the four screws that hold it on, use the 5th screw to raise or lower the butt end of then neck, then retighten the four attachment screw. Personally I would use a shim instead, much more stable.
Bridge height: in the photo it looks like the small screws are height-adjustment screws. Slacken the strings and try them. I believe they will raise/lower their end of the bridge.

Cool guitar! I never saw one that color.
 
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